Banks raise deposit interest rates
In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio ...
Franchise explosion in Vietnam
Franchise has facilitated many foreign brands to break into Vietnam. In addition to franchise industry for food, beverage or education, franchising in goods retail industry...
6 leading economic sectors in Central region
There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results ...
91.9% companies are optimistic about production activities in the last 6 months this year
FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume ...
CPTPP makes shift of Vietnam from deficit to surplus
Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend ...
- 22 / 05 / 2018 -
Vietnamese economy’s outlook for 2018 and to 2020

At a conference in Hanoi, on May 15, on the Vietnamese economy’s outlook for 2018 and to 2020, Minister of Planning and Investment Nguyen Chi Dung highlighted the good socio-economic performance in the first months of 2018, especially the GDP growth of 7.38%, the highest rise in a first quarter in 10 years. The macro-economy was kept stable, and inflation was under control.

The average consumer price index (CPI) in the first four months of 2018 rose 2.8%. The monetary market and the banking system remained stable with the system’s liquidity ensured, he said.

The Minister added that disbursement of foreign direct investment was estimated at US$5.1 billion, up 6.3%. The number of newly-established enterprises was over 41,200, with combined capital of approximately VND 412 trillion.

Total import-export revenue in the period was estimated to hit US$73.76 billion, a rise of 19% annually, with a trade surplus of roughly US$3.39 billion.

President of the Vietnam Association of Foreign Invested Enterprises (VAFIE) Nguyen Mai held that foreign investment (FDI) has played an important role in the Vietnamese economy. Last year, the FDI disbursement reached a record figure of US$17.5 billion. He predicted that FDI disbursement this year may hit US$19 billion.

Meanwhile, Warrick Cleine, President and General Director of KPMG Vietnam asserted that foreign investors are becoming more confident in the Vietnamese economy. A number of forecasts by international organisations put the country’s average GDP growth in the 2018-2020 at around 6.85% and even 7% in some years.

However, Minister Dung said the Vietnamese Government has been highly aware of the possible impacts by the economy’s internal problems and outside influence.

The country aims for fast and sustainable economic growth on the basis of making full use of humankind’s science-technology advances, especially from the 4.0 industrial revolution, towards the goal of a modern industrialised country with an advanced market economy.

Minister Dung also highlighted the need for the joint efforts of all sectors at every level, as well as all economic players, in maintaining the growth trend not only in 2018 but also in the following years.

Source: nhandanonline