Impressive start inspires high growth

Illustration photo

The PM made the assessment at the recent Government’s regular meeting. Almost all Cabinet members assessed that ministries, sectors, and localities positively implemented Resolution 01 in January, the socio-economic performance progressed positively in all fields. 

In January, 2018, the Nikkei Viet Nam Manufacturing Purchasing Managers' Index, or PMI, rose to the highest level since April 2017 to 53.4 in January, up from 52.5 in December, the highest level in ASEAN and even bigger than the Republic of Korea and China. These figures showed the big confidence of customers and the society. Meanwhile, average rate of ASEAN was only 50.2. 

Industrial production index jumped 20.9% against the same period in 2017. Agricultural production was stable. Aquaculture output saw a year-on-year growth of 4.1%. Total retail sale of goods and services increased 9.5% against the same period last year. Total retail sales of goods and services picked up 9.5%. The number of international guests was 1.4 million. 

Total number of newly-established and resumed firms touched nearly 15,400. FDI attraction hit over US$ 1 billion, representing a year-on-year surge of 10.5%. 

Export turnover was US$ 19 billion, up from US$ 14.6 billion of the same period last year. 

PM Phuc evaluated that thanks the positive economic performance and drastic and synchronous solutions, Viet Nam may achieve the high GDP growth pace of over 6.7%. 

However, the Government chief noticed the importance of avoiding subjective and neglecting spirits, and the need to take  drastic actions.

Ministries, agencies, and localities were urged to keep a close watch on the global situations for better policy responses including market formulation, preventive measures on trade, anti-smuggling, and trade frauds. 

The PM also asked for more focus on perfecting legal mechanisms, policies,and  improving the business and investment environment./.

VGP