Numerous international organizations have persisted in offering upbeat and hopeful evaluations of Vietnam's economic status, predicting that it will rank among the nations with the fastest rates of growth in the world and the region by 2025.
The macroeconomy is stable, inflation is under control, growth is being encouraged, and the major economic balances are being maintained, according to Minister-Chairman of the Government Office Tran Van Son, who spoke at the government's regular press conference on Saturday, November 8.
The average consumer price index (CPI) increased 3.27 per cent in the first ten months.
Over 762.4 billion USD was the nation's total import-export turnover during that time, up 17.4 per cent from the previous year, and there was a trade surplus of almost 19.6 billion USD. In spite of storms and floods in many areas, the agricultural sector stayed steady; industrial production rose by 9.2 per cent; and overall retail sales of goods and consumer service revenue increased by 9.3 per cent.
Additionally, 491 trillion VND (18.6 billion USD) in public investment disbursements were made, fulfilling 54.4 per cent of the plan. Disbursed FDI capital increased by 8.8 per cent year over year, while total registered FDI capital increased by 15.6 per cent.
With 266,000 new and reactivated businesses registered over the 10-month period—a 26.5 per cent increase—enterprise development continued to show encouraging momentum.
In October, the Purchasing Managers' Index (PMI) increased to 54.5 points. Furthermore, reforms to administrative procedures were actively encouraged, and the two-tier local administration system functioned normally overall.
The official shared that many localities experienced high growth rates in terms of the socioeconomic situation in the area. The first nine months saw GRDP growth of 8 per cent or more in sixteen localities, including six—Quang Ninh, Hai Phong, Ninh Binh, Phu Tho, Quang Ngai, and Bac Ninh—with growth exceeding 10 per cent.
He also mentioned that Prime Minister Pham Minh Chinh, who spoke at the Government's regular meeting earlier that day, emphasized that in the upcoming period, it will be important to keep a close eye on the situation, respond with prompt, proactive, flexible, and effective policies, resolutely avoid retreating or being pessimistic in the face of difficulties, not be complacent in favorable conditions, and remain steadfast in pursuing set objectives.
In order to lay a strong foundation for quick and sustainable growth, the government leader also emphasized the significance of preserving macroeconomic stability, managing inflation, and preserving the major economic balances.
At the same time, Son added, a proactive, flexible, timely, and effective monetary policy should be implemented in close collaboration with an expansionary fiscal policy and other pertinent policies.
