Vietnam posts a GDP growth rate of 7.08 percent in 2018, an 11-year high (Photo: VNA) Hanoi (VNA) – Vietnam’s Gross Domestic Product (GDP) grew by 7.08 percent in 2018, the highest in the past 11 years, the General Statistics Office (GSO) announced on December 27. GSO Director General Nguyen Bich Lam said at a press conference that the growth rate well surpassed the target of 6.7 percent, and was the result of the strong leadership of the Government, the Prime Minister and the efforts of agencies, administrations at all levels, the business community and people nationwide. According to Lam, the agri-forestry-fishery sector posted an expansion of 3.76 percent and contributed 8.7 percent to the overall growth. The industry-construction sector recorded an 8.85 percent increase and contributed 48.6 percent to the GDP growth, while the figures for the services sector were 7.03 percent and 42.7 percent, respectively. The export of commodities and services picked up by … [Read more...] about GDP growth rate in 2018 highest in 11 years
Vietnam growth rate
Think tank puts Vietnam growth at 6.8-7.0% in 2019
The Hanoitimes - Vietnam is becoming more dependent on foreign-invested enterprises while the weighting of the domestic sector has reduced. Vietnam’s economy is forecast to expand between 6.84% and 7.02% in 2019, above the government’s growth target of 6.6-6.8% set for the year, driven by manufacturing and rising disposable income, amid a potential global slowdown, a think tank has said. The growth could accelerate to 7.0-7.2% in 2020, said Dang Duc Anh, a researcher at the National Center for Socio-economic Information and Forecast (NCIF), at a workshop in Hanoi on December 12. NCIF research Dang Duc Anh. Photo: NCIF The Vietnamese government aims to grow the economy by 6.6-6.8% next year. The country’s GDP is likely to expand 7.0% this year, above the initial target of 6.7%, Prime Minister Nguyen Xuan Phuc said at a dialogue with development partners in Hanoi last week. Vietnam’s GDP rose 6.98% in the first three quarters of 2018, improving … [Read more...] about Think tank puts Vietnam growth at 6.8-7.0% in 2019
Vietnam’s growth rate at nearly 6.8 percent this year: WB
WB Country Director for Vietnam Ousmane Dione speaks at the release of the report in Hanoi on December 11 (Photo: VNA) Hanoi (VNA) – The World Bank (WB) expects Vietnam’s economic growth this year at nearly 6.8 percent, compared to the 6.3 percent projected for East Asia and the Pacific, in a report released on December 11. In the report “Taking Stock: An Update on Vietnam’s Recent Economic Economic Developments”, the WB said the country’s outlook remains robust despite growing external headwinds, which is supported by strong domestic demand and a dynamic export-oriented manufacturing sector. The growth in the medium term is forecast to decelerate incrementally to 6.6 percent and 6.5 percent in 2019 and 2020, respectively. Inflation is expected to remain muted, at about the State Bank of Vietnam’s target of 4 percent, given anticipated monetary policy tightening over the medium term. Meanwhile, risks to the outlook have … [Read more...] about Vietnam’s growth rate at nearly 6.8 percent this year: WB
Vietnam wants high GDP growth rate, low inflation rate in 2019
VietNamNet Bridge - The National Assembly has approved a resolution on socio-economic development in 2019, calling for 6.6-6.8 percent GDP growth rate and a maximum 4 percent CPI increase. Chair of the Economics Committee Vu Hong Thanh said the targeted GDP growth rate of 6.6-6.8 percent has been set on the basis of the GDP in 2018, which is estimated to exceed to 6.7 percent. Economists all say the pressure on CPI is increasing with the possible crude oil price increase, the exchange rate, interest rate and risk increase in the international financial market, and trade conflicts among some countries. Le Dang Doanh, a respected economist, said the environmental protection tax will be raised to the ceiling level, which will lead to petroleum price increases. Meanwhile, petrol and oil are input materials for industrial production. RELATED NEWS UOB raises 2018 GDP growth forecast for Vietnam to 6.9% Vietnam’s economy in 2018-2020 as seen by PM’s advisory … [Read more...] about Vietnam wants high GDP growth rate, low inflation rate in 2019
Gov’t eyes 6.6-6.8% GDP growth rate for 2019
The Government sets an economic growth target of 6.6-6.8% for 2019, said PM Nguyen Xuan Phuc while presenting a report for socio-economic development norms on October 22 in Hanoi. Prime Minister Nguyen Xuan Phuc delivers a report on Vietnam's socio-economic situation this year and the development plan for 2019 at the opening of the parliament's 6th session on October 22 (Photo: VNA) PM Phuc stressed that in 2019 the Government would continue to consolidate the macro-economy; control inflation; raise self-control competence for the economy; improve the investment and business environment; make practical changes in strategic breakthroughs; restructure the economy and transform the growth modal; raise productivity, quality, efficiency and competitiveness; develop innovations, scientific and technological applications; and make full use of the fourth industrial revolution. The Government will develop culture, society, ensure social security; raise people’s … [Read more...] about Gov’t eyes 6.6-6.8% GDP growth rate for 2019