Vietnamese economy continues to show signs of recovery
Vietnam's socio-economic situation in October and the ten months of this year showed signs of recovery, with numerous bright spots, Minister and Chairman of the Government Office Tran Van Son told a press conference in Hanoi on November 4.
Minister and Chairman of the Government Office Tran Van Son (Photo: VNA)
Hanoi (VNA) 🦹– Vietnam's socio-economic situationin October and the ten months of this year showed signs of recovery, with numerousbright spots, Minister and Chairman of the Government Office Tran Van Son tolda press conference in Hanoi on November 4.
The macro economy continued to remain stable, inflation was curbed, growth was promoted, while major balances of the economy were guaranteed. Public debt, government debt, national foreign debt, and state budget overspending were well controlled, he noted. The average consumerprice index (CPI) in 10 months increased by 3.2%, lower than the set target of about 4.5%.State budget revenue in the reviewed period reached nearly 1.4 quadrillion VND(57 billion USD), equal to 86.3% of the estimate. Exports in October climbed by 5.9% and importsincreased by 5.2% comparedto the same period last year. In the 10 months, the country enjoyed a trade surplus of 24.61 billion USD as compared to 9.56 billion USD in thesame period last year. The agriculturalproduct export was a bright spot, reaching 43.08 billion USD in 10 months. Industrial production experienced a positive recovery, with the Index of Industrial Production in October expanding 5.5% from September and 4.1% over the same period last year while the ten-month period rising 0.5%. Service trade activities maintained a high growth rate with the retailsales of goods and consumer service revenue in ten months gaining 9.4% overthe same period lastyear. International visitors to Vietnam in ten monthsreached nearly 10 million, 4.2 times higher than the same period last year, far exceeding thetarget of 8 million set for 2023. In the first ten months, there were 183,600 enterprises entering and re-entering the market, which was higher than the number of those exiting the market. Son revealed that the total registered foreigndirect investment (FDI) capital reached more than 25.76 billion USD, anincrease of 14.7% over the same period last year. The total realised FDIcapital continued to upsurge, reaching 18 billion USD, a year-on-year expansionof 2.4%. Many large, high-tech companies and corporations have committed toinvesting in the country./.
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Minister and Chairman of the Government Office Tran Van Son (Photo: VNA) 
