Photo for illustration (Source: VNA)

GSO Director General Nguyen Thi Huong advised domestic firms to closely work with multinational foreign direct investment (FDI) businesses like Samsung and Toyota to seek material suppliers in Vietnam capable of fulfilling their needs in both short and long terms.

Vietnam’s gross domestic product (GDP) declined by 6.17 percent year-on-year in the third quarter, the sharpest drop since the country began announcing its quarterly GDP figures in 2000.

However, the overall GDP expanded by 1.42 percent in the first nine months of 2021 from the same period last year, marking a great success of the country in the fight against the COVID-19 pandemic and maintaining production and business amid the prolonged period of social distancing in many provinces and cities.

During the period, the agro-forestry-fishery sector posted an expansion rate of 2.74 percent, contributing 23.52 percent to the overall growth; with the figures for industry and construction being 3.57 percent and 98.53 percent, respectively.

Huong said a number of sectors could recover in the fourth quarter if COVID-19 is brought under control, public investment disbursement is accelerated, and financial aid packages are promptly implemented.

Notably, when the world demand in the last months of the year tends to increase, Vietnam will have the conditions to strive for the highest possible growth amid its combat against the epidemic, the official noted./.

CPV (Source: VNA)