Vietnam`s GDP growth in Q1 highest over 10 years

  • 05:39 - 2018/03/29

Vietnam’s Gross Domestic Product (GDP) in the first quarter of 2018 is forecasted to exceed 7%, the highest figure recoded over the recent 10 years. 

The information was released on March 27 in Ha Noi at meeting chaired by Deputy PM Vuong Dinh Hue with the macro-economic management working group to assess the implementation of Resolution No. 01/NQ-CP on major tasks and solutions guiding the implementation of the socio-economic development plan and State budget plan in 2018 and forecasts on economic development in 2018. 

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Participation in the meeting included leaders of the Ministries of Planning and Investment, Finance, Industry and Trade and the State Bank of Viet Nam. 

Deputy Minister of Planning and Investment Le Quang Manh announced that the industry-construction was the main force for economic development, setting the growth of 11% in the first three months of 2018. 

The Consumer Price Index (CPI) growth was closely controlled at 2.82%. 

The nation gained US$33.62 billion from exporting, up 23% against the same period last year, especially eight items joining the US$1 billion export club. 

The import value was estimated at US$32.54 billion, up 13.6%. The nation’s trade surplus reached US$1.1 billion in the first quarter of the year. 

As of the end of 2018, the number of new firms may exceed 126,000 in 2017. 

The Foreign Direct Investment (FDI) capital realization obtained US$176.25 billion, equal to 55% of the valid capital. 

In the first quarter, the total newly-registered and additional FDI was US$5.8 billion while the realized FDI capital was US$3.88 billion, up 7.2%. 

Speaking at the meeting, Deputy PM Hue asked ministries, agencies and localities to review and promote factors to support growths and budget revenues in the upcoming time as the Nghi Son Oil Refinery and Petrochemical (NSRP) complex will come into operation in May this year. 

He required closely following economic situations in the region and the world and make reports on macro-economy in fields of finance-banking, stocks and real estate to report to the Government and the PM.  

Source: VietNamNet

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