Prime Minister Nguyen Xuan Phuc chairs the Government’s meeting on October 1 (Photo: VNA)

Hanoi (VNA) – Positive outcomes have been recorded in all economic spheres over the last nine months with the most remarkable being the highest nine-month GDP growth rate since 2011, according to Prime Minister Nguyen Xuan Phuc.

He made the remark while chairing the Government’s monthly meeting on October 1.

The PM said GDP grew 6.98 percent in the period – the fastest nine-month pace since 2011, driven by the processing and manufacturing industry with an expansion of 12.65 percent.

The macro-economy remained stable while inflation stayed under control when the consumer price index (CPI) rose by 3.57 percent between January and September. 

Export revenue was estimated at 179 billion USD, up 15.4 percent, with exports by domestic firms up 17.5 percent compared to the 14.6-percent increase in the FDI sector’s. Twenty-six products recorded export turnover of over 1 billion USD, and five of them brought home more than 10 billion USD.

The country posted 5.39 billion USD in trade surplus, which was an encouraging record, PM Phuc said.

Total investment in society increased 10.9 percent, and total goods retail sales and consumer service revenue rose 11.3 percent. Meanwhile, more than 96,000 new businesses were set up in the reviewed period.

Vietnam is also taking the lead in the Amway Global Entrepreneurship Report 2018. Accordingly, 92 percent of the respondents perceived starting a business as desirable, and 88 percent said they were ready to take risks compared to the global average of 47 percent.

The PM noted that other fields such as culture, society, environment, defence, security and diplomacy also witnessed improvements.

Basing on what have been achieved in September and the nine months, the PM said eight targets for 2018 set by the National Assembly will be surpassed while four others will be reached.

Reviewing the outstanding achievements in September, he highlighted the particular success of the World Economic Forum on ASEAN (WEF ASEAN) – the country’s biggest diplomatic event this year – held in Hanoi, noting that it was described by foreign delegations as the most successful WEF ASEAN in the last 27 years.

Another noteworthy event was the debut of the Committee for Management of State Capital in late September. As a special unit subordinate to the Government, it manages State capital at 19 State-owned economic groups and corporations with total capital of 1 quadrillion VND (43 billion USD) and combined asset value of 2.3 quadrillion VND (99 billion USD), he added.

At the meeting, PM Phuc called attention to the US-China trade war, asking ministers and heads of sectors to devise concrete solutions to its impact.

The inflation pressure was still very big as a result of both internal and external factors, he said, adding that this problem needs to be further monitored so as to take timely actions to keep inflation under control.

He also pointed out certain difficulties facing the export of some farm produce, obstacles to businesses, slow disbursement of construction and investment capital, complicated smuggling and trade fraud, and problems in ensuring social order and safety.

The leader requested Cabinet members to work out solutions to existing problems to fulfill this year’s targets and create momentum for 2019.–VNA