Hanoi - Vietnam’s economic growth this year is expected to hit 6 per cent, lower than was forecast in June, according to the World Bank (WB) report on East Asia and Pacific economies, released yesterday.
This year’s economic growth is anticipated to come in very low in comparison to the set target, although experts believe this will help to stabilise the macro-economy and create a foundation to ensure sustainable development ahead in subsequent years.
Ho Chi Minh City’s economic growth in the first quarter was only 0.4 percentage points higher than in the same period last year, Nguyen Thanh Phong, Chairman of the municipal People’s Committee, told a recent online meeting.
PM Nguyen Xuan Phuc on January 17 asked the Party Central Committee's Economic Commission to continue making strategic proposals to contribute to promoting the nation’s economic growth in 2020.
Vietnam’s 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’s regular meeting for November on December 2.
Vietnam’s GDP expanded 6.98 percent in the January-September period, the highest nine-month growth rate over the past nine years, said General Director of the General Statistics Office (GSO) Nguyen Bich Lam on September 28.
Ho Chi Minh City’s economy remained on the growth in the first quarter of this year, said Chairman of the Municipal People’s Committee Nguyen Thanh Phong at a review meeting in early April.
Vietnam reaped notable achievements in 2018, with economic growth hitting a record high of 7.08%, putting Vietnam on the list of Asia’s fastest-growing economies. New economic dynamics are expected to drive Vietnam forward in 2019 and help it achieve its 5-year plan targets by 2020.
The year 2018 ends with several records, which are the highlights in the national economic panorama, laying the firm foundation for the country to strive to successfully implement the Resolution of the 12th National Party Congress and Resolution 142/2016/QH13 on the five-year socio-economic development plan for 2016-2020.
To reach the targets for economic growth for the 2016 – 20 period, the southern province of Binh Duong will focus on eight major works this year to encourage new investment.
The Central Institute for Economic Management (CIEM) has forecast Vietnam’s economy growth for 2018 may be at 6.88 thanks to positive socio-economic results in the first nine months of this year.
Maintaining sustainable economic growth and ensuring financial stability and self-resilience are key goals reached at the 22nd ASEAN Finance Ministers’ Meeting (AFMM-22), the fourth ASEAN Finance Minister and Central Bank Governors’ Meeting (AFMGM-4) and related meetings held in Singapore from April 3-6.
“GDP growth has important significance for Vietnam as it creates resources for investment & development, generates jobs, and increases the budget revenue to spend more on investment and social welfare, contributing to political stability,” Nguyen Chi Dung, Minister of Planning and Investment (MPI), said recently in an interview with Thoi Bao Kinh Te Sai Gon.
PSNews – According to the scheme to develop environmental industry of Vietnam toward 2025, the environmental industry will become a key sector that would contribute significantly to Vietnam’s economic growth.
A flexible monetary policy supported stability in Vietnam’s financial market and fostered economic growth this year, a National Financial Supervisory Commission (NFSC) official said in Hanoi recently.
Hanoi estimates its gross domestic product (GDP) growth rate this year will reach 8.03% – the highest in six years.
VOV.VN - Weakness in the mining and agriculture segments of the economy dragged on third quarter growth and will likely result in Vietnam missing the year’s 6.7% targeted GDP growth rate, say government economists.
On September 27, the Asian Development Bank (ADB) launched the “Asian Development outlook update (ADOU) 2016”. The report forecasts a downward revision in Vietnam’s economic growth to 6.0% in 2016, and 6.3% in 2017.
PSNews-The Asian Development Bank (ADB) held a conference to discuss the economic development situations of Vietnam and Asia in 2017.
Vietnam has defined economic growth and environmental protection as a primary target in selecting investment projects. Environmental protection should be included throughout Vietnam’s development process.