High economic growth, inflation under control: government meeting

14:39 | 02/10/2018 Economy- Society

Vietnam recorded comprehensive socio-economic results in the first nine months of this year, with the nine-month GDP growth at its highest level in eight years, Prime Minister Nguyen Xuan Phuc said at the regular Government meeting, held in Hanoi, on October 1.

PM Nguyen Xuan Phuc speaking at the government meeting - Photo: NDO

The PM noted that, based on the achieved results, the government will fulfil all 12 targets set by the National Assembly for 2018.

He also acknowledged the efforts by the agencies concerned in successfully holding the World Economic Forum on ASEAN in Hanoi and the launch of the Committee for the Management of State Capital in September.

Vietnam's GDP growth rate for the January-September period was 6.98 pct, the highest for the same period since 2011, with the high growth in the three sectors of agriculture, industry and construction, and services. In particular, the manufacturing industry, a key pillar of economic growth, went up by 12.65 pct in the nine-month period.

The meeting heard that the macro-economy continues to be stabilised and inflation is under control, with the average CPI in the nine months up by 3.57 pct over the same period last year. The country also posted total export revenues of US$179 billion, an increase of 15.4 pct over the same period last year.

During the nine-month period, Vietnam saw more than 96,000 newly established enterprises and an increase of 11.3 pct in the total retail sales of goods and services.

However, the government leader also asked ministers to put forth more specific measures to deal with the US-China trade war, curb inflation, and deal with the slow disbursement of public investment.

The PM also asked for solutions to the decreases in the export of a number of agricultural products, increasing trade fraud and counterfeit goods, African swine fever, and several other issues.

He requested that the ministers discuss and develop solutions to the inadequacies and shortcomings in their industries in order to better fulfil all of the tasks set for 2018.

Theo NDO