Vietnam’s economy stays positive amid global growth slowdown: PM

Vietnam’s economy remains positive despite the slowdown in global economic growth, especially in Asia, over the last 11 months, Prime Minister Nguyen Xuan Phuc said while chairing the Government’s regular meeting for November on December 2.
Vietnam’s economy stays positive amid global growth slowdown: PM ảnh 1The Government holds the regular meeting for November on December 2 (Photo: VNA)

Hanoi (VNA) – Vietnam’s economyremains positive despite the slowdown in global economic growth, especially inAsia, over the last 11 months, Prime Minister Nguyen Xuan Phuc said whilechairing the Government’s regular meeting for November on December 2.

He noted that at the recent 8th session of theNational Assembly, legislators applauded the Cabinet’s governance achievementsas seen in the fulfillment of all the 12 targets, especially the growth target,set by the parliament.

The people put trust in and have highexpectations on the Government, the PM stressed.

However, he also analysed certain problems thatmust be addressed immediately.

He asked the agriculture and rural developmentsector to overhaul disease prevention and control and work harder to sustainVietnam’s position as one of the leading agricultural product exporters inASEAN.

Meanwhile, industrial production has deceleratedin some sectors like motorcycle, automobile and fertiliser production, andthere hasn’t been much progress in the disbursement of public investmentcapital, PM Phuc pointed out.

The Government leader requested all-levelauthorities and sectors to step up FDI attraction and further deal withpressing cultural, social, environmental and security issues.

The PM asked Government members to work out newsolutions and initiatives to accomplish all targets for 2020, particularly theASEAN chairmanship in 2020 and the non-permanent membership of the UN SecurityCouncil for 2020-2021, which he described as international positions withcritically important roles amidst the changing world.

During the meeting, participants reviewedattainments over the last 11 months and discussed measures to perform tasks fornext year.

Macroeconomic stability has been maintained, Vietnamattracted 31.8 billion USD in foreign direct investment (FDI) in the period, up 3 percent year-on-year, and FDI disbursement reached 17.6 billionUSD.

Exportssaw good growth, with a 9.2 billion USD trade surplus. Revenues from retail ofgoods and services also picked up 11.8 percent.

The index of industrial production expanded by 9.3percent,and newly-established enterprises in the period numbered 126,700.

The NovemberConsumer Price Index (CPI) was up 0.96 percent from the previous month, and theaverage CPI for the January-November period increased by a three-low of 2.57percent on a yearly basis.

In particular, thenumber of foreign arrivals almost reached 16.2 million, up 15.4 percent fromthe same period last year./.
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