President Nguyen Minh Triet made the request while meeting with provincial leaders during his visit to Ninh Binh from July 28-29, focusing on its socio-economic performances and the implementation of Politburo Resolution 49-NQ/TU on judicial reforms.Subsequently, the authorities at all levels need to fully tap into the province’s potential such as shipbuilding in Gia Vien district, as well as maintaining its position in industry, tourism and transport, said President Triet.Ninh Binh province should make more effort to improve its investment environment so it can attract investment both internally and externally and focus on training a high-quality workforce for investors, he added.The State leader also hailed the province’s endeavours to step up socio-economic development and judicial reforms in recent years, citing its GDP growth rate last year of 15.35 percent despite the adverse impacts of the global economic crisis.He applauded the progress Ninh Binh has made in … [Read more...] about Ninh Binh urged to reach 18 pct GDP growth rate
Gdp growth rate
Prime Minister pushes for 5-percent GDP growth rate
Prime Minister Nguyen Tan Dung hascalled for the nation’s concerted efforts to combat the economicslowdown and fulfil the GDP growth target of 5 percent for this year.The PM made the request at a regular government meeting held on July6-7. Leaders of the People’s Committees of all 63 provinces and citiestook part in the socio-economic development session via livetelevision. Stabilising the macro-economy, preventing inflation, ensuring social security and national defence, and maintaining political and social stabilityare other major tasks for the rest of the year, PM Dung said. Cabinet members agreed that, despite facing various challenges in thefirst half of 2009, the economy has suffered a slight slowdown, but notfallen into a crisis and is now showing signs of recovery. The government’s policy of exempting, reducing and reimbursing taxeshas helped mitigate difficulties for businesses and consumers, step upproduction, commerce and exports, and stimulate investment … [Read more...] about Prime Minister pushes for 5-percent GDP growth rate
Vietnam expects GDP growth rate of 6.4-6.8% in 2018
NDO - Prime Minister Nguyen Xuan Phuc has signed an instruction on constructing a plan for the socio-economic development and State budget estimate in 2018, with the aim of attaining a GDP growth rate of 6.4-6.8%.Regarding the State budget estimate for 2018, the State budget revenue as a proportion of GDP will be approximately 21%, while budget collection from import and export activities is expected to increase by at least 5-7% in comparison with 2017.The PM also called for a reduction in budget spending and a revision of prioritised sectors making disbursement in 2018.The instruction states the necessity to prioritise investment in two national target programmes, as well as other target programmes approved by the Government, with the aim of reducing poverty, creating jobs, agricultural and rural development, and the development of disaster-affected areas and localities affected by the ocean environmental incident caused by Formosa.The instruction also requires the cutting of … [Read more...] about Vietnam expects GDP growth rate of 6.4-6.8% in 2018
Cabinet meeting: GDP growth rate projected at 7% in 2016
Addressing a regular Government meeting in Hanoi on February 29, the PM highlighted the GDP growth rate of 6.68% as the most noted achievement last year. The figure represents the highest increase since 2008, even higher than the number reported to the National Assembly (about 6.5%) and the set target of 6.2%. Regarding the country’s socio-economic development in the first two months of this year, the leader said the nine-day Lunar New Year (Tet) holiday has not affected sectors’ performances. However, he said, investment procedures remained inconsistent and complicated. He urged agencies and localities to pay more attention to administrative reform in order to create an optimal environment for investors while making the best use of trade agreements Vietnam has signed to lure more investment. Stressing US$22 billion in official development assistance (ODA) committed by donors, PM Nguyen Tan Dung called for greater efforts to speed up ODA … [Read more...] about Cabinet meeting: GDP growth rate projected at 7% in 2016
Vietnam struggles to meet 6.7% GDP growth rate
Several economists and commentators have said that Vietnam needs increased administrative reform and investment in other sectors to boost GDP as oil is not a sustainable answer.The growth rate in the first six months was low so in order to meet the 6.7 percent GDP growth rate for the year, growth for the remainder of the year would need to reach 7.4%. According to the General Statistics Office, this was currently unlikely.Nguyen Xuan Thanh from Fulbright University Vietnam said the growth rate in the second quarter higher than the first because of the retail and tourism and services industries. Vietnam must realise where its strengths are right now. Nguyen Xuan Thanh from Fulbright University Vietnam "For the last half of the year, we can boost growth from construction, manufacturing and processing industries. I predict the growth rates of the next quarters will be around 7% and the year's growth rate will be 6.5%," he said.Thanh disagreed with the opinion that Vietnam should … [Read more...] about Vietnam struggles to meet 6.7% GDP growth rate
Cabinet sets 6.5-6.7% GDP growth rate for 2018
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PM Nguyen Xuan Phuc announced that the Government targets to attain a 6.5-6.7% GDP growth pace in 2018 based on impressive achievements made in 2017.PM Phuc made the announcement while delivering a report on socio-economic development plan for 2018 at the ongoing 4th session of the 14th National Assembly on October 23 in Ha Noi. The PM said that in 2018, the Government will spare no effort to maintain the growth pace of 2017; accelerate investment in key transport projectss; resolve shortcomings and infringements in BOT and BT projects. Maintaining growth pacePM Phuc noticed that in 2018, the global and regional situations were forecast to take place in a complicated and unexpected manner. The world economy grows unevenly in 2017; coupled with risks and rising protection trend. In addition, the fourth industrial revolution has been generating both opportunities and challenges for Viet Nam. The Government targets to strive for a 6.5-6.7% GDP growth rate in 2018; continues to stabilize … [Read more...] about Cabinet sets 6.5-6.7% GDP growth rate for 2018
GDP growth rate norm is within reach
Deputy Ngan Hoang Ngan - Photo: VGP Deputies acknowledged that out of 13 norms which had been assigned by the National Assembly, 11 exceeded goals and two were approximately met.Deputy Hoang Van Cuong from Ha Noi said that the norm on unemployment was 3.18% (lower than the preset goal of 4%) and CPI touched 4.78% (lower than 5%). These figures showed that the economy was relatively stable.However, deputy Nguyen Thanh Quang from Da Nang city was concerned that the number of newly-founded enterprises was 110,100 and 39,580 in 2016 and early 2017, respectively. However, the number of dissolved enterprises was relatively high with 4,067 in early 2017. Deputy Tran Hoang Ngan said that even though GDP growth rate was only 5.1% in Q1, which is the lowest rate over the last four years, there are foundations for the preset goal of 6.7%. He mentioned economic potentials including the private sector, Resolutions of the fifth Party Central Committee … [Read more...] about GDP growth rate norm is within reach
ADB: Viet Nam’s GDP growth rate hits record high
In the Asian Development Outlook Supplement (ADOS) which was published on December 3, the lender said that industry and construction were the driving forces for the Vietnamese economy in the first three quarters by contributing nearly 50% of shares.In addition, the economy was pushed by export-oriented production output and high FDI inflows. In Q3, 2015, the service sector expanded 6.2%. Meanwhile, agricultural growth was less modest at 2.1%.ADB forecast that Viet Nam would enjoy a GDP growth rate of 6.5% in 2015 and 6.6% in 2016 thanks to the robust recovery trend in 2015, prefer FDI inflows, and progress in important FTAs.The lender also projected an inflation rate of 0.9% and 5% in 2015 and 2016, respectively. The figure was lower than 4.1% last year./. By Kim Loan … [Read more...] about ADB: Viet Nam’s GDP growth rate hits record high
GDP growth rate reaches peak in Q3
Illustration photo Four bright pointsThe GSO convened a press conference to announce socio-economic performance in the first nine months of 2017, on September 29 in Ha Noi. In the first nine months, GDP picked up 6.41% against the previous year; increasing 5.15% in Q1; 6.28% in Q2. The agro-forestry-fishery sector went up 2.78%. Industry and construction expanded 7.17%. Service sector picked up 7.25%. Noticeably, in Q3, GDP reached the peak of 7.46%. GSO General Director Nguyen Bich Lam mentioned four bright points for growth namely (1) agriculture; (2) the manufacturing and processing industry (up 12.8%); active FDI sector (with US$ 25.5 billion of FDI attraction in the first nine months) and (3) service boom (9.2% growth rate of total retail sale of goods and services); and the Government’s drastic effort to streamline administrative procedures; and improve the business environment. Feasible GDP preset goal Mr. Lam held … [Read more...] about GDP growth rate reaches peak in Q3
Quang Ninh’s GDP growth rate rises
QUANG NINH — The GDP growth rate of the northeastern coastal Quang Ninh province in the first six months this year was estimated to be 7.1 per cent, according to the provincial People's Committee. The province also attracted US$390.9 million of foreign direct investment during the period, a year-on-year increase of 14.8 per cent. Large-sized projects include the $43 million Lam Ngoc-Tuan Chau urban residential area, a $47.4 million instant noodle grinding plant, and the $300 million Texhong Fiber Factory.-VNS … [Read more...] about Quang Ninh’s GDP growth rate rises