Illustrative image (Source: VNA) Hanoi (VNA) – The Vietnamese economy showedpositive signals in January with hikes in export-import as well as domestic andforeign investment.
According to the General Statistics Office (GSO), there werenearly 11,000 newly-established firms nationwide with a total registeredcapital of 98.3 trillion VND (4.36 billion USD) in the month, up 20.6 percentin volume and 8.9 percent in value. The additional capital hit 316.4 trillionVND, proving that business confidence is improving.
During the first month of 2018, the State investment hit16,175 billion VND, or 4.9 percent of the yearly plan and up 13.9 percentannually.
Notably, the industrial production index surged by 20.9percent year-on-year as firms focus on manufacturing to meet demand during theupcoming traditional Lunar New Year. Among industries, manufacturing andprocessing sector expanded by 23.8 percent while other sectors postedyear-on-year growth such as mining, electronics, computers and opticalproducts, coal mining and apparel.
The consumer price index rose by 0.51 percent monthly and2.65 percent annually due to higher electricity and fuel prices, said actingDirector of the GSO’s Price Statistics Department Do Thi Ngoc.
As the Lunar New Year is days away, costs of housing repairservices, railway tickets and health care moved higher, thus driving CPI up,she said.
Also in January, the total export-import value surpassed 38billion USD, 19 billion USD of which was export, up approximately 33.9 percent.Top five currency earners include mobile phones and spare parts (4.2 billionUSD), apparel (2.3 billion USD), electronics and accessories (2.2 billion USD),footwear (1.3 billion USD), machinery and equipment (1.05 billion USD).
However, only roughly 1.25 billion USD in foreign directinvestment (FDI) was recorded, equivalent to 75.9 percent in the same periodlast year. The FDI disbursement went up 10.5 percent to 1.05 billion USD. Thetop investors remained the Republic of Korea and Singapore.
The Overseas Investment Agency said the newly-registeredcapital fell strongly as only projects worth 100-300 million USD were licensed,accounting for nearly 71 percent of the total.
The Ministry of Planning and Investment asked ministries,agencies and localities to complete assigning socio-economic targets, Statebudget estimate and devising public investment plan for 2018, as well as acceleratedisbursement from early this year.
It also requested preventing epidemics on plants and animals,closely controlling cross-border fowl and cattle transportation and ensuringfood safety and hygiene.-VNA
According to the General Statistics Office (GSO), there werenearly 11,000 newly-established firms nationwide with a total registeredcapital of 98.3 trillion VND (4.36 billion USD) in the month, up 20.6 percentin volume and 8.9 percent in value. The additional capital hit 316.4 trillionVND, proving that business confidence is improving.
During the first month of 2018, the State investment hit16,175 billion VND, or 4.9 percent of the yearly plan and up 13.9 percentannually.
Notably, the industrial production index surged by 20.9percent year-on-year as firms focus on manufacturing to meet demand during theupcoming traditional Lunar New Year. Among industries, manufacturing andprocessing sector expanded by 23.8 percent while other sectors postedyear-on-year growth such as mining, electronics, computers and opticalproducts, coal mining and apparel.
The consumer price index rose by 0.51 percent monthly and2.65 percent annually due to higher electricity and fuel prices, said actingDirector of the GSO’s Price Statistics Department Do Thi Ngoc.
As the Lunar New Year is days away, costs of housing repairservices, railway tickets and health care moved higher, thus driving CPI up,she said.
Also in January, the total export-import value surpassed 38billion USD, 19 billion USD of which was export, up approximately 33.9 percent.Top five currency earners include mobile phones and spare parts (4.2 billionUSD), apparel (2.3 billion USD), electronics and accessories (2.2 billion USD),footwear (1.3 billion USD), machinery and equipment (1.05 billion USD).
However, only roughly 1.25 billion USD in foreign directinvestment (FDI) was recorded, equivalent to 75.9 percent in the same periodlast year. The FDI disbursement went up 10.5 percent to 1.05 billion USD. Thetop investors remained the Republic of Korea and Singapore.
The Overseas Investment Agency said the newly-registeredcapital fell strongly as only projects worth 100-300 million USD were licensed,accounting for nearly 71 percent of the total.
The Ministry of Planning and Investment asked ministries,agencies and localities to complete assigning socio-economic targets, Statebudget estimate and devising public investment plan for 2018, as well as acceleratedisbursement from early this year.
It also requested preventing epidemics on plants and animals,closely controlling cross-border fowl and cattle transportation and ensuringfood safety and hygiene.-VNA
VNA
