HANOI, June 26 — Vietnamese Prime Minister Pham Minh Chinh said on Wednesday the country’s gross domestic product (GDP) growth in the second quarter will be faster than the 5.66 per cent annual growth in the first quarter.

Chinh was speaking at a meeting of the World Economic Forum in China, according to a statement posted on the government website.

The Southeast Asian country, a regional industrial hub, is targetting GDP growth of 6.0 per cent-6.5 per cent this year, faster than 5.05 per cent last year.

Chinh said Vietnam will continue to prioritise growth and repeated his promise that the country will not face power shortages this year.

Vietnam will stick to its flexible monetary policy, with an aim of further cutting banks’ lending interest rates, reducing fees and boosting public investment, he said.

"Vietnam continues to prioritise growth and have flexible policies, suitable to Vietnam’s conditions and circumstances and world situations and trends,” Chinh said.

The South-east Asian country last year failed to meet its GDP growth target partly due to power shortages amid heatwaves that affected business activity.

Chinh said Vietnam has been taking measures to upgrade its power generation capacity and its grid, while focusing on clean energy development.

The country will soon issue policies for direct power purchase agreements and the development of rooftop solar and power generation from LNG. — Reuters