The gross domestic product (GDP) in2014 is estimated to grow by 5.98 percent over the previous year,Director General of the Vietnam General Statistics Office (GSO) NguyenBich Lam reported at a press conference in Hanoi on December 27.
He said this is a positive sign if compared to the5.25 percent growth in 2012 and 5.42 percent in 2013, affirming that themacroeconomy remained stable, inflation continued to be kept at safelevel and production showed good growth.
Theindustrial production index climbed by an estimated 7.6 percent year onyear, much higher than the 5.9 percent rise of last year. The processingand manufacturing industry posted a year-on-year rise of 8.7 percent,while its inventory index by December 1 was up 10 percent from one yearago, compared to a 20.1 percent increase recorded at the same period in2012 and 10.2 percent in 2013.
The Decemberconsumer price index (CPI) increased by 1.84 percent from one year ago.The average CPI this year showed a modest rise of 4.09 percent, or 0.15percent increase each month, a low level in the last decade.
The FDI flow also showed positive signs. For the year ending December15, the country counted 1,580 newly-licensed foreign direct investment(FDI) projects with a total registered capital of 15.64 billion USD, up24.5 percent in project number and 9.6 percent in value year on year.FDI disbursement was estimated at 12.4 billion USD, a yearly rise of 7.4percent and 2.9 percent higher than the set target.
The export turnover is estimated at 150 billion USD, a rise of 13.6percent compared to 2013. Excluding the price factor, the export valueincreased by 9.1 percent. Among the country’s 28 export staples, fouritems brought home more than 10 billion USD, and 15 earned more than 1billion USD. Meanwhile, import turnover was 148 billion USD, up 12.1percent.
In 2014, the country had 74,842 newbusinesses with a total registered capital of over 432 trillion VND(20.6 billion USD), down 2.7 percent in number but up 8.4 percent incapital. At the same time, 15,419 enterprises resumed operation, anincrease of 7.1 percent from the 2013 figure.
Retailsales of goods and services were estimated to grow by 10.6 percentagainst the previous year, or 6.3 percent if excluding the price factor,while total social investment went up about 11.5 percent year-on-yearand equivalent to 31 percent of the GDP.
Besides theachievements, there remain difficulties and challenges, includingdomestic prices’ vulnerability to unpredictable changes in the worldsituation, poor competitiveness in the context of global integration andunsolved bad debts especially those of State-run businesses.
To achieve the 2015 target of 6.2 percent in GDP growth, the bankingsector should study the real situation and development prospects ofother sectors to offer more credit for business expansion, contributingto economic growth, said Ha Quang Tuyen, Director of the GSO’s Systemof National Accounts Department.
According to PhamDinh Thuy, Director of the GSO’s Industrial Statistics Department, therewere still many business dissolutions and suspensions during the year.He urged domestic enterprises to seek ways to improve productivity andapply new technologies in order to enhance their competitiveness even onthe domestic market.-VNA
He said this is a positive sign if compared to the5.25 percent growth in 2012 and 5.42 percent in 2013, affirming that themacroeconomy remained stable, inflation continued to be kept at safelevel and production showed good growth.
Theindustrial production index climbed by an estimated 7.6 percent year onyear, much higher than the 5.9 percent rise of last year. The processingand manufacturing industry posted a year-on-year rise of 8.7 percent,while its inventory index by December 1 was up 10 percent from one yearago, compared to a 20.1 percent increase recorded at the same period in2012 and 10.2 percent in 2013.
The Decemberconsumer price index (CPI) increased by 1.84 percent from one year ago.The average CPI this year showed a modest rise of 4.09 percent, or 0.15percent increase each month, a low level in the last decade.
The FDI flow also showed positive signs. For the year ending December15, the country counted 1,580 newly-licensed foreign direct investment(FDI) projects with a total registered capital of 15.64 billion USD, up24.5 percent in project number and 9.6 percent in value year on year.FDI disbursement was estimated at 12.4 billion USD, a yearly rise of 7.4percent and 2.9 percent higher than the set target.
The export turnover is estimated at 150 billion USD, a rise of 13.6percent compared to 2013. Excluding the price factor, the export valueincreased by 9.1 percent. Among the country’s 28 export staples, fouritems brought home more than 10 billion USD, and 15 earned more than 1billion USD. Meanwhile, import turnover was 148 billion USD, up 12.1percent.
In 2014, the country had 74,842 newbusinesses with a total registered capital of over 432 trillion VND(20.6 billion USD), down 2.7 percent in number but up 8.4 percent incapital. At the same time, 15,419 enterprises resumed operation, anincrease of 7.1 percent from the 2013 figure.
Retailsales of goods and services were estimated to grow by 10.6 percentagainst the previous year, or 6.3 percent if excluding the price factor,while total social investment went up about 11.5 percent year-on-yearand equivalent to 31 percent of the GDP.
Besides theachievements, there remain difficulties and challenges, includingdomestic prices’ vulnerability to unpredictable changes in the worldsituation, poor competitiveness in the context of global integration andunsolved bad debts especially those of State-run businesses.
To achieve the 2015 target of 6.2 percent in GDP growth, the bankingsector should study the real situation and development prospects ofother sectors to offer more credit for business expansion, contributingto economic growth, said Ha Quang Tuyen, Director of the GSO’s Systemof National Accounts Department.
According to PhamDinh Thuy, Director of the GSO’s Industrial Statistics Department, therewere still many business dissolutions and suspensions during the year.He urged domestic enterprises to seek ways to improve productivity andapply new technologies in order to enhance their competitiveness even onthe domestic market.-VNA
