The national economy has continued to grow encouragingly in the lasteight months although it has experienced a number of difficulties inproduction and investment, natural disasters and diseases in plants andanimals, say analysts from the Ministry of Planning and Investment.
The recently issued figures point to an increase of 13.7 percent in thevalue of industrial production, which was estimated at 504 trillion VND.Surprisingly the figure is even higher than the yearly target of 12percent.
The foreign-invested sector continues to lead in value,registering a growth of 17.3 percent. It was followed by the non-statesector at 12.7 percent and the state-owned sector with 9 percent.
Expertshighlighted the stability in agricultural production during thereviewed period, citing the autumn-winter rice crop of 1,446,000 ha,equivalent to 98.8 percent of the same period last year and the maizecrop of 936,000 ha, a rise of 12.5 percent.
Although diseases inplants have affected both rice and subsidiary crops nationwide, theeffect has been marginal, noted experts.
They estimate that thecountry’s turnover of commodities and services will hit 1,009 trillionVND in the reviewed period, or a surge of 62 percent year on year.
The earnings from export in the past eight months have reached 44.5 billion USD, an increase of 19.7 percent year on year.
Ofthis, 20.65 billion USD was provided by foreign-invested companies and2.3 billion USD is due to rises in the prices of products in the worldmarket.
The exports that registered rises include steeland iron (up 103 percent), chemicals and chemical products (83 percent),electrical wires and cables (72 percent), machinery, equipment andspare parts (61 percent), timber and furniture (36 percent) andcomputer, electronic products and components (30 percent).
Althoughimports in August fell by 1.5 percent to 6.9 billion USD, in the pasteight months they reached 52 billion USD, a yearly rise of 24.4 percent.
Aswith exports, imports included 3.8 billion USD from rises in the pricesof almost all imported items, such as liquefied gas up by 38.5 percent,petroleum up 35.5 percent and the raw materials to make plastics 32.4percent.
By mid-August, the State budget had already collected 313.5 trillion VND, or 67.9 percent of the yearly estimate.
Thisincludes 195.5 trillion VND from local sources (66.4 percent of yearlyestimate), 38.6 trillion VND from crude oil (52 percent of yearlyestimate), and nearly 76 trillion VND from imports-exports (79.6 percentof yearly estimate).
Besides these gains, the national economystill faces a number of difficulties including a high trade deficit, therising prices of products on the world market, especially rawmaterials, a lack of capital, high interest rates for producers andmanufacturers and the threat of diseases and natural disasters.
Toaddress these difficulties and maintain a positive growth by the yearsend, State agencies need to focus on measures to promote production andbusiness and manage the import of goods that could be produced locallyand are non-essential, experts said.
They also urged the State to focus on product quality and detecting trade and tax fraud./.
The recently issued figures point to an increase of 13.7 percent in thevalue of industrial production, which was estimated at 504 trillion VND.Surprisingly the figure is even higher than the yearly target of 12percent.
The foreign-invested sector continues to lead in value,registering a growth of 17.3 percent. It was followed by the non-statesector at 12.7 percent and the state-owned sector with 9 percent.
Expertshighlighted the stability in agricultural production during thereviewed period, citing the autumn-winter rice crop of 1,446,000 ha,equivalent to 98.8 percent of the same period last year and the maizecrop of 936,000 ha, a rise of 12.5 percent.
Although diseases inplants have affected both rice and subsidiary crops nationwide, theeffect has been marginal, noted experts.
They estimate that thecountry’s turnover of commodities and services will hit 1,009 trillionVND in the reviewed period, or a surge of 62 percent year on year.
The earnings from export in the past eight months have reached 44.5 billion USD, an increase of 19.7 percent year on year.
Ofthis, 20.65 billion USD was provided by foreign-invested companies and2.3 billion USD is due to rises in the prices of products in the worldmarket.
The exports that registered rises include steeland iron (up 103 percent), chemicals and chemical products (83 percent),electrical wires and cables (72 percent), machinery, equipment andspare parts (61 percent), timber and furniture (36 percent) andcomputer, electronic products and components (30 percent).
Althoughimports in August fell by 1.5 percent to 6.9 billion USD, in the pasteight months they reached 52 billion USD, a yearly rise of 24.4 percent.
Aswith exports, imports included 3.8 billion USD from rises in the pricesof almost all imported items, such as liquefied gas up by 38.5 percent,petroleum up 35.5 percent and the raw materials to make plastics 32.4percent.
By mid-August, the State budget had already collected 313.5 trillion VND, or 67.9 percent of the yearly estimate.
Thisincludes 195.5 trillion VND from local sources (66.4 percent of yearlyestimate), 38.6 trillion VND from crude oil (52 percent of yearlyestimate), and nearly 76 trillion VND from imports-exports (79.6 percentof yearly estimate).
Besides these gains, the national economystill faces a number of difficulties including a high trade deficit, therising prices of products on the world market, especially rawmaterials, a lack of capital, high interest rates for producers andmanufacturers and the threat of diseases and natural disasters.
Toaddress these difficulties and maintain a positive growth by the yearsend, State agencies need to focus on measures to promote production andbusiness and manage the import of goods that could be produced locallyand are non-essential, experts said.
They also urged the State to focus on product quality and detecting trade and tax fraud./.
