Home :: News

PM praises comprehensive economic growth in first nine months

VGP – PM Nguyen Xuan Phuc assessed that the socio-economic performance in September and the first nine months was extremely comprehensive especially the 6.98% nine-month GDP growth rate since 2011.

PM Phuc made the evaluation at the ongoing Government’s regular meeting on October 1, in Ha Noi. 

The Government chief highlighted the successful hosting of the 2018 World Economic Forum on ASEAN in Ha Noi which was regarded as the most successful regional meeting in 27 years. 

The leader also mentioned the debut of the Committee for State Capital Management (on September 30) which is in charge of managing capital in 19 State corporations and groups which have together had a total value of assets of over VND 1 quadrillion.

The outcomes in September and the first nine months were extremely comprehensive. Therefore, eight targets set by the National Assembly will be met. 

GDP indicator picked up 6.98%, setting a record high in nine months since 2011. In addition, three sectors, namely agriculture, industry, construction, service made high growth. Especially, processing and manufacturing grew 12.65%, serving as the major impetus for overall growth.

The macro-economy was stable. Inflation was put under control. Average CPI in January-September increased 3.57%. Export turnover was estimated at US$ 179 billion, up 15.4% in which the domestic sector expanded 17.5% and the  FDI sector up 14.6%. Up to 26 items joined the US$ 1 billion export club. Five items earned over US$ 10 billion export turnovers. Viet Nam ran a trade surplus of US$ 5.39 billion. 

Viet Nam led the world in a recent survey on startup in which 92% of respondents said that they would consider startup; 88% of others accepted business startup failure risks.  

Other fields including culture, society, environment, national defense, security, and diplomacy were positive. 

However, the Government chief asked ministers propose solutions to specific issues especially the U.S.-China trade war.

He tasked his inferiors to keep a close watch on CPI growth rates. In September, CPI saw a month-on-month surge of 0.59% due to increasing education fees (up 5.7%) and rising petrol prices. Inflation pressure remained high. 

Agro-exports encountered a string of difficulties. Inventory rate of the processing and manufacturing sector posted a year-on-year growth of 13.8%. A large number of businesses are struggling against obstacles. 

The PM also highlighted the slow disbursement progress of construction projects, problems of trade frauds, social security, large-scale complaints, and infectious diseases. 

PM Phuc assigned ministers to give comments on solutions to fulfilling the preset norms for 2018./. 

By Kim Loan

Comments Your comment must be approved before publishing