According to a report of the National Assembly’s Economic and Budgetary Committee, Viet Nam’s economic growth rate over the past months is higher than schedule; however, the quality of growth sees no radical changes compared with the last year.
Mr. Tao Huu Phung answers the press during the break of the 11th-tenure National Assembly's 10th session in Ha Noi on Oct 17
He admitted it was a paradox when capital increases but economic effectiveness decreases, and explained it was due to squander and cumbersome system.
To increase the competitiveness of a healthy economy, there should be comprehensive solutions, he added.
The government should invest more in key industries and innovation of advanced technology, and it is imperative great business corporations should be established in agricultural economic industry in the wake of WTO entry, he said.