According to the General Statistics Office (GSO), Vietnam still maintained a trade surplus of US$816 million in January. However, in February, the trade balance reversed with the trade deficit of US$900 million, thereby, the country's trade balance enjoyed a slight deficit at US$84 million. Despite the early efforts from the relevant agencies to control African swine fever, the disease is showing signs of rapid spread, negatively affecting production and the psychology of farmers. In addition, the speed of disbursement of public investment remains sluggish. The Ministry of Planning and Investment (MoPI) judged that the Vietnamese economy is facing many difficulties and challenges, particularly the risk of avoiding the origin of goods from several countries to Vietnam and the change of the supply chain as the US – China trade war is increasing. Meanwhile, the process of economic restructuring and growth model transformation in the country is facing great limitations. In order to … [Read more...] about Measures to make breakthrough in economic development
Positive impact of the economic development
PM hails IMF’s support for VN’s socio-economic development
PM Nguyen Xuan Phuc meets Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12, 2018 - Photo: VGP/Quang Hieu The PM made that statement during his meeting with Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12 on the sidelines of the annual meetings of the IMF-World Bank Group. During the meeting, the Vietnamese leader highlighted Viet Nam’s socio-economic achievements in 2018, especially maintain sustainable macro-economy, closely controlling inflation, promoting the economic growth rate to 7%, and high trade surplus over the recent nine months of 2018. The Vietnamese Government is enhancing economic restructuring, growth model reform, fiscal consolidation, public debt control, prudent and flexible financial – monetary policies, business climate improvement, development of the private economic sector, innovation encouragement, and improvement of the capacity of joining in the Fourth Industrial Revolution, … [Read more...] about PM hails IMF’s support for VN’s socio-economic development
EVFTA has positive impact on Vietnam’s economy: European firms
European firms at a seminar on EVFTA in Brussels (Source: VNA) HCM City (VNA) – The business members of the European Chamber of Commerce in Vietnam (EuroCham) are optimistic about the Europe-Vietnam Free Trade Agreement (EVFTA)’s impacts on Vietnamese economy, with nearly 80 percent predicting a rosy future. According to the EVFTA Report 2018 launched by the EuroCham on October 9, enterprises said that the EVFTA will help Vietnam increase its competitive edge. Co-Chairman of EuroCham Nicolas Audier said that EuroCham members believe that the EVFTA will create favourable conditions for Vietnam to improve its competitive capacity in comparison with other countries like China, Japan, and the Republic of Korea. Besides this, 72 percent of the firms also agreed that Vietnam will become a hub for European companies in the ASEAN thanks to the free trade deal. On top of the clear economic benefits of the EVFTA, EuroCham members believed that it will have positive … [Read more...] about EVFTA has positive impact on Vietnam’s economy: European firms
An Giang requested to promote sustainable economic development
President Tran Dai Quang speaks at the working session (Source: VNA) An Giang (VNA) - President Tran Dai Quang has urged authorities of the Mekong Delta province of An Giang to focus on improving the quality of infrastructure planning for socio-economic and urban development, and effectively mobilising and using resources to promote its rapid and sustainable economic development. During a working session with provincial leaders on August 19, President Quang asked the province to pay more attention to training human resources, speeding up administrative reform, improving the investment environment and enhancing scientific and technological application in agriculture and processing industry. He also asked for An Giang to invest more in developing infrastructure of industrial parks and transport infrastructure, form regional connectivity and accelerate the building of new-style rural areas. The State leader stressed the need for An Giang to reform its agricultural growth model, … [Read more...] about An Giang requested to promote sustainable economic development
President asks An Giang to promote sustainable economic development
President Tran Dai Quang speaks at the working session (Source: VNA) An Giang (VNA) - President Tran Dai Quang has urged authorities of the Mekong Delta province of An Giang to focus on improving the quality of infrastructure planning for socio-economic and urban development, and effectively mobilising and using resources to promote its rapid and sustainable economic development. During a working session with provincial leaders on August 19, President Quang asked the province to pay more attention to training human resources, speeding up administrative reform, improving the investment environment and enhancing scientific and technological application in agriculture and processing industry. He also asked for An Giang to invest more in developing infrastructure of industrial parks and transport infrastructure, form regional connectivity and accelerate the building of new-style rural areas. The State leader stressed the need for An Giang to reform its agricultural growth model, … [Read more...] about President asks An Giang to promote sustainable economic development