Vietnam’s economy stays positive amid global growth slowdown: PM

Vietnam economy remains positive despite the slowdown in global economic growth especially in Asia over the last 11 months Prime Minister Nguyen Xuan Phuc said while chairing the Government regular meeting for November on December 2
vietnams economy stays positive amid global growth slowdown pm

The Government holds the regular meeting for November on December 2

He noted that at the recent 8th session of the National Assembly, legislators applauded the Cabinet’s governance achievements as seen in the fulfillment of all the 12 targets, especially the growth target, set by the parliament.

The people put trust in and have high expectations on the Government, the PM stressed.

However, he also analysed certain problems that must be addressed immediately.

He asked the agriculture and rural development sector to overhaul disease prevention and control and work harder to sustain Vietnam’s position as one of the leading agricultural product exporters in ASEAN.

Meanwhile, industrial production has decelerated in some sectors like motorcycle, automobile and fertiliser production, and there hasn’t been much progress in the disbursement of public investment capital, PM Phuc pointed out.

The Government leader requested all-level authorities and sectors to step up FDI attraction and further deal with pressing cultural, social, environmental and security issues.

The PM asked Government members to work out new solutions and initiatives to accomplish all targets for 2020, particularly the ASEAN chairmanship in 2020 and the non-permanent membership of the UN Security Council for 2020-2021, which he described as international positions with critically important roles amidst the changing world.

During the meeting, participants reviewed attainments over the last 11 months and discussed measures to perform tasks for next year.

Macro economic stability has been maintained, Vietnam attracted 31.8 billion USD in foreign direct investment (FDI) in the period, up 3 percent year-on-year, and FDI disbursement reached 17.6 billion USD.

Exports saw good growth, with a 9.2 billion USD trade surplus. Revenues from retail of goods and services also picked up 11.8 percent.

The index of industrial production expanded by 9.3 percent, and newly-established enterprises in the period numbered 126,700.

The November Consumer Price Index (CPI) was up 0.96 percent from the previous month, and the average CPI for the January-November period increased by a three-low of 2.57 percent on a yearly basis.

In particular, the number of foreign arrivals almost reached 16.2 million, up 15.4 percent from the same period last year.

Source: VNA

Related News

"Good oppotunities" for export to Asia - Africa markets

"Good oppotunities" for export to Asia - Africa markets

VCN - The Asia-Africa region is always an important market for Vietnam. These are two markets considered suitable for Vietnamese goods, including the Red River Delta, to expand their market share in the near future.
Rubber exports grows sharply in June

Rubber exports grows sharply in June

VCN - According to Import – Export Tax Department (Ministry of Industry and Trade), Vietnam's rubber exports in June 2024 reached about 150 thousand tons, worth 238 million USD, up 77.6% in volume and 76.6% in value. Price compared to May 2024.
Vietnam rises 11 places in budget transparency ranking

Vietnam rises 11 places in budget transparency ranking

VCN - The results of the Open Budget Survey 2023 (OBS 2023) have just been announced by the International Budget Cooperation (IBP), Vietnam's budget transparency ranking continues to be raised to 57 out of 125 countries, climbing 11 places compared to the 2021 assessment period and rising 20 places compared to 2019.
South Korea is Vietnam’s leading trading partner

South Korea is Vietnam’s leading trading partner

VCN – South Korea has maintained its position as largest trading partners of Vietnam for many years.

Latest News

PM calls for all-people, comprehensive digital transformation

PM calls for all-people, comprehensive digital transformation

Prime Minister Pham Minh Chinh on July 19 called for the all-people and comprehensive digital transformation, with the engagement of the whole political system, people and enterprises in the development of digital infrastructure, completion of the digital institutions and human resources training, so that Vietnam can catch up with and be on par with other nations amidst global headwinds.
Statement of the Ministry of Foreign Affairs on Vietnam submission on the limits of the extended continental shelf beyond 200 nautical miles in respec

Statement of the Ministry of Foreign Affairs on Vietnam submission on the limits of the extended continental shelf beyond 200 nautical miles in respec

Vietnam presented to the United Nations Commission on the Limits of the Continental Shelf (CLCS) its Submission on the Limits of the Extended Continental Shelf in respect of the Central Area of the East Sea (South China Sea) (VNM-C) at the UN headquarters in New York on July 17 morning (local time).
Vietnam’s e-commerce market grows fastest in SEA

Vietnam’s e-commerce market grows fastest in SEA

Vietnam, along with Thailand, are the two fastest growing e-commerce markets in Southeast Asia, according to the recently released report '2024 E-commerce in Southeast Asia' by Momentum Works.
Deputy PM urges implementation of 1 million hectare of high-quality rice project

Deputy PM urges implementation of 1 million hectare of high-quality rice project

Deputy Prime Minister Tran Luu Quang on July 17 requested the acceleration of the implementation of a project to develop 1 million hectares of specialised rice cultivation with high quality and low emissions associated with green growth in the Mekong Delta region from now to 2030.

More News

Việt Nam targets full mobile broadband coverage on highways, industrial zones by 2025

Việt Nam targets full mobile broadband coverage on highways, industrial zones by 2025

By 2025, Việt Nam aims to achieve 100 per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of the country’s mobile telecommunications network, approved by the Ministry of Information and Communications (MIC).
Vietnamese enterprises undeterred by economic headwinds: UOB

Vietnamese enterprises undeterred by economic headwinds: UOB

Vietnamese companies have been upbeat about the current business environment, according to the Business Outlook Study 2024 (SMEs & Large Enterprises) conducted by Singapore-based United Overseas Bank (UOB).
AMRO revises Vietnam’s 2024 growth forecast upward to 6.3%, highest in ASEAN

AMRO revises Vietnam’s 2024 growth forecast upward to 6.3%, highest in ASEAN

The ASEAN+3 Macroeconomic Research Office (AMRO) revised Vietnam’s economic growth forecast upward to 6.3% for 2024 in its latest update released on July 16.
Trade remedies create a fair business environment

Trade remedies create a fair business environment

VCN - The investigation and application of trade defense measures have contributed to protecting and creating a fair competitive environment for domestic manufacturing industries.
PM asks for solutions towards 95% of public investment disbursement rate

PM asks for solutions towards 95% of public investment disbursement rate

Prime Minister Pham Minh Chinh has asked for breakthrough solutions to fulfil the target of 95% in the disbursement rate of public investment capital in 2024.
Industrial production has not yet been able to fully recover as before the Covid-19 pandemic

Industrial production has not yet been able to fully recover as before the Covid-19 pandemic

VCN - Industrial production in the second quarter of 2024 grew more positively than in the first quarter of 2024, the value added growth rate was estimated at 8.55% over the same period last year. In the first six months of the year, the added value of the industrial sector increased by 7.54% over the same period last year, of which the processing and manufacturing industry increased by 8.67%.
PM urges measures to remove obstacles to e-commerce

PM urges measures to remove obstacles to e-commerce

Prime Minister Pham Minh Chinh has stressed the need to implement specific tasks in order to untangle knots in e-commerce development, according to the Government Office.
European firms hope for Vietnam’s continuous policy adjustments: EuroCham survey

European firms hope for Vietnam’s continuous policy adjustments: EuroCham survey

The European Chamber of Commerce in Vietnam (EuroCham) on July 15 released its Business Confidence Index (BCI) report for the second quarter of 2024, which reveals a marginal decline from 52.8 in Q1 to 51.3 in Q2, underscoring the necessity for ongoing policy adjustments to maintain momentum.
Six factors positively impact economic growth in 2024

Six factors positively impact economic growth in 2024

VCN- Minister of Planning and Investment (MPI) Tran Quoc Phuong said there are 6 factors that will positively impact economic growth in the remaining months of 2024.
Read More

Your care

Latest Most read
PM calls for all-people, comprehensive digital transformation

PM calls for all-people, comprehensive digital transformation

Prime Minister Pham Minh Chinh on July 19 called for the all-people and comprehensive digital transformation, with the engagement of the whole political system, people and enterprises in the development of digital infrastructure, completion of the digital institutions and human resources training, so that Vietnam can catch up with and be on par with other nations amidst global headwinds.
Statement of the Ministry of Foreign Affairs on Vietnam submission on the limits of the extended continental shelf beyond 200 nautical miles in respec

Statement of the Ministry of Foreign Affairs on Vietnam submission on the limits of the extended continental shelf beyond 200 nautical miles in respec

Vietnam presented to the United Nations Commission on the Limits of the Continental Shelf (CLCS) its Submission on the Limits of the Extended Continental Shelf in respect of the Central Area of the East Sea (South China Sea) (VNM-C) at the UN headquarters in New York on July 17 morning (local time).
Vietnam’s e-commerce market grows fastest in SEA

Vietnam’s e-commerce market grows fastest in SEA

Vietnam, along with Thailand, are the two fastest growing e-commerce markets in Southeast Asia, according to the recently released report '2024 E-commerce in Southeast Asia' by Momentum Works.
Deputy PM urges implementation of 1 million hectare of high-quality rice project

Deputy PM urges implementation of 1 million hectare of high-quality rice project

Deputy Prime Minister Tran Luu Quang on July 17 requested the acceleration of the implementation of a project to develop 1 million hectares of specialised rice cultivation with high quality and low emissions associated with green growth in the Mekong Delta region from now to 2030.
Việt Nam targets full mobile broadband coverage on highways, industrial zones by 2025

Việt Nam targets full mobile broadband coverage on highways, industrial zones by 2025

By 2025, Việt Nam aims to achieve 100 per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of the country’s mobile telecommunications network, approved by the Ministry of Information and Communications (MIC).
Mobile Version