Gross domestic product in Vietnam during the first quarter grew 6.93 per cent year-on-year, down slightly from the 7.55 per cent expansion in the final quarter of last year, Vietnam’s General Statistics Office said on Sunday.
Despite the challenge presented by US levies, Chinh said a target of “at least 8 per cent” growth this year remains unchanged, the government’s official news portal said.
To achieve its goal, Vietnam’s Ministry of Finance has determined that the economy will need to grow between 8.2 per cent and 8.4 per cent in the remaining quarters, the government said.
On Friday, Trump and To Lam agreed to discuss a deal to remove tariffs. Both leaders said after a phone call that Trump described as “very productive”.
In Monday’s statement, Chinh said Vietnam would review issues such as its monetary policy, exchange rate, non-tariff barriers and ensuring the correct origin of goods.
Since an arms embargo was lifted in 2016, US defence exports to Vietnam have been largely limited to coastguard ships and trainer aircraft. Sources said last year there were talks on sales of Lockheed Martin C-130 Hercules military transport planes to Hanoi.
