Business

Vietnamese economy continues to show signs of recovery

Vietnam's socio-economic situation in October and the ten months of this year showed signs of recovery, with numerous bright spots, Minister and Chairman of the Government Office Tran Van Son told a press conference in Hanoi on November 4.
Vietnamese economy continues to show signs of recovery ảnh 1Minister and Chairman of the Government Office Tran Van Son (Photo: VNA)

Hanoi (VNA) – Vietnam's socio-economic situationin October and the ten months of this year showed signs of recovery, with numerousbright spots, Minister and Chairman of the Government Office Tran Van Son tolda press conference in Hanoi on November 4.

The macro economy continued to remain stable, inflation was curbed, growth was promoted, while major balances of the economy were guaranteed. Public debt, government debt, national foreign debt, and state budget overspending were well controlled, he noted.

The average consumerprice index (CPI) in 10 months increased by 3.2%, lower than the set target of about 4.5%.State budget revenue in the reviewed period reached nearly 1.4 quadrillion VND(57 billion USD), equal to 86.3% of the estimate.

Exports in October climbed by 5.9% and importsincreased by 5.2% comparedto the same period last year. In the 10 months, the country enjoyed a trade surplus of 24.61 billion USD as compared to 9.56 billion USD in thesame period last year.

The agriculturalproduct export was a bright spot, reaching 43.08 billion USD in 10 months. Industrial production experienced a positive recovery, with the Index of Industrial Production in October expanding 5.5% from September and 4.1% over the same period last year while the ten-month period rising 0.5%.

Service trade activities maintained a high growth rate with the retailsales of goods and consumer service revenue in ten months gaining 9.4% overthe same period lastyear. International visitors to Vietnam in ten monthsreached nearly 10 million, 4.2 times higher than the same period last year, far exceeding thetarget of 8 million set for 2023.

In the first ten months, there were 183,600 enterprises entering and re-entering the market, which was higher than the number of those exiting the market.

Son revealed that the total registered foreigndirect investment (FDI) capital reached more than 25.76 billion USD, anincrease of 14.7% over the same period last year. The total realised FDIcapital continued to upsurge, reaching 18 billion USD, a year-on-year expansionof 2.4%. Many large, high-tech companies and corporations have committed toinvesting in the country./.

VNA
#economy #socio-economic development #CPI #FDI #Vietnam #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

See more

Inside Bach Dang shipbuilding factory (Photo: VNA)

Vietnam's industry spearheads transition to circular economy

The circular economy is no longer just a policy choice. It has become an inevitable trend for delivering sustainable and green growth, sharpening competitiveness at home and abroad, and meeting Vietnam’s net-zero emissions target by 2050. It is now a prerequisite to sustain long-term economic expansion, particularly in industrial production and supporting industries.

Algerian officials, representatives of foreign embassies, and numerous global oil and gas companies attend the Bid Round. (Photo: VNA)

Vietnam joins int'l bidding for oil and gas exploration in Algeria

Currently, PVEP is involved in oil exploitation at Blocks 433a and 416b of the Bir Seba field in the Hassi Messaoud area, Ouargla province, located more than 600 km south of Algiers. The project stands as one of Petrovietnam’s most successful overseas ventures, demonstrating the operational capacity and technical expertise of Vietnamese engineers on the global stage.

A customer is making payment via QR code at a coffee shop. The Ministry of Finance has proposed new regulations on taxable revenue thresholds for household businesses. (Photo: VNA)

Finance ministry eyes flexible tax thresholds

In a draft law amending several articles of the laws on personal income tax, corporate income tax and value-added tax, Vietnam's finance ministry proposed scrapping the fixed revenue threshold of 500 million VND. Instead, it suggested the threshold be set by the Government based on prevailing economic conditions.

Part of the Vung Ang II Thermal Power Plant. (Photo: VNA)

Vung Ang II thermal power plant inaugurated in Ha Tinh

With a total investment of 2.2 billion USD, the Vung Ang II Thermal Power Plant is developed under a build-operate-transfer (BOT) model and has a designed capacity of 1,200 MW, comprising two turbines. The plant is expected to play a key role in ensuring stable electricity supply for the central region and neighbouring areas, thereby facilitating the development of industries, agriculture and services.

Aircraft at the Noi Bai International Airport in Hanoi. (Photo: VNA)

Vietnam seeks stable jet fuel supplies from China amid Middle East disruptions

On the basis of the long-standing friendship and cooperation between Vietnam and China, as well as close ties between their aviation authorities, the Civil Aviation Authority of Vietnam has asked the Civil Aviation Administration of China to direct relevant fuel suppliers to ensure sufficient and stable supplies for Vietnam.

Illustrative photo (Photo: Xinua/VNA)

Remittances to Ho Chi Minh City decline in Q1 amid global headwinds

Data from the State Bank of Vietnam (SBV)'s Region 2 branch showed that remittances transferred through credit institutions and economic organisations in Ho Chi Minh City exceeded 2 billion USD in the January–March period, down 15.6% from the previous quarter and 16.9% year-on-year.

The shipments are unloaded at the airport. (Photo: VNA broadcasts)

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Vietnamese fresh produce and processed foods are increasingly recognised for their quality, with items such as cashew nuts, coffee and spices gaining popularity among Middle East consumers. In 2025, Vietnam’s farm produce exports to the UAE exceeded 445 million USD, up nearly 24% year-on-year.

The World Coffee Heritage Forum officially opens at the World Coffee Museum in Dak Lak province, with eyes on UNESCO recognition for Vietnamese coffee culture. (Photo: VNA)

World Coffee Heritage Forum opens in Dak Lak

Dak Lak is known as the 'capital' of Vietnamese coffee, with rich, fertile basalt red soil ideal for agriculture. The coffee provides livelihoods for thousands of locals and has developed a unique cultural space, closely tied to the socioeconomic life, customs and identity of local communities.

Chili peppers are on the list of essential goods in Indonesia (Photo: VNA)

Indonesia reduces imports of strategic food commodities

In 2026, Indonesia is expected to have approximately 12 million tonnes of rice carried over from the previous year, supported by annual production of around 34.7 million tonnes. With projected consumption of 31.1 million tonnes, national rice reserves could reach approximately 16 million tonnes by the end of the year.

Hanoi’s roadmap to implement low-emission zones from July is providing a strong boost to the electric two-wheeler market (Photo: VNA)

Low-emission zone roadmap drives electric two-wheeler boom in Hanoi

From July 1, Hanoi will introduce time-based or area-based restrictions on petrol-powered motorcycles within Ring Road 1, with plans to expand coverage across the entire zone by 2028 and extend to areas within Ring Road 3 by 2030. The policy is expected to reshape travel habits for millions of urban residents.