Vietnam’s economic recovery on track during eight months: ministry

Vietnam’s macro-economy has successfully been kept stable and recovery remained on track during the first eight months of 2015, despite complicated global economic fluctuations, the Ministry of Planning and Investment (MoPI) reported.

At the Government’s monthly meeting on August 31, the MoPI highlighted the slow pace of the consumer price index, the quickened credit growth rate compared to the same period last year, stable interest rates and flexible adjustments to exchange rates.

During the eight-month period, industries posted much higher growth rates than those of previous years, especially in processing and manufacturing. Aggregate demand and purchase power also improved with a substantial increase in the total retail sales of goods and services.

A rise was seen in registered and implemented foreign direct investment and Vietnam sustained its growth momentum in overseas shipments and the import of materials and machinery serving production and export, the MoPI added, noting that trade deficits in the eight months were under control.

The ministry also underlined that social welfare, political security and social order and safety were ensured from January-August.

During the two-day meeting through September 1, the Government will scrutinise reports on the 2016 draft socio-economic development plan, the public investment plan between 2016-2020, the State budget use this year and estimates for 2016 along with outcomes of the State-owned enterprise restructuring in the eight months.

The national plan on land use for the next five years and some draft laws will also come under discussion.-VNA