Vietnam faces challenge in meeting 2023 growth target - Planning Ministry
Business
The ministry forecast this year's growth at 6.0 per cent-6.5 per cent.
HANOI (Reuters) - Vietnam is facing numerous challenges in meeting its economic growth target of 6.5 per cent this year, the Ministry of Planning and Investment said on Monday, after growth in the first quarter slowed.
The Southeast Asian country, a regional manufacturing hub, reported gross domestic product growth of 3.32 per cent in the first quarter of the year, slowing from a 5.92 per cent expansion in the fourth quarter of 2022, with exports falling 11.9 per cent from a year earlier due to weakening global demand.
The ministry, in a statement, forecast this year's growth at 6.0 per cent-6.5 per cent, and said the country would aim for the higher figure.
"The adverse global conditions have affected domestic growth and business activities, especially industrial production and exports," the ministry said in the statement.
