Vietnam’s economic conditions continued to improve, with both industrial production and retail sales registered a third month of growth, said World Bank (WB) in the December edition of its Vietnam Macro Monitoring.
Vietnam’s economic conditions continued to improve, according to the World Bank (WB). (Photo: vneconomy.vn)
Hanoi (VNA) – Vietnam’s economic conditionscontinued to improve, with both industrial production and retail salesregistered a third month of growth, said World Bank (WB) in the Decemberedition of its Vietnam Macro Monitoring.
Merchandise exports hit a record high of 31.9 billion USD,helping maintain a second consecutive month of trade surplus while FDIcommitment recovered after a brief dip in October, according to the report.
The number of newly established formal firms increased by 45percent month-on-month in November, a second month of increase since May. Firm exitnumbers also increased, but at a slower pace than firm entry.
More businesses resumed than suspended operations, it said,adding that the higher net entry could be attributed to improved economicconditions.
The Consumer Price Index (CPI) increased by 0.3 percent month-on-month in November. (Photo: vneconomy.vn)
Inflation ticked up due to fuel price hikes, recoveringnon-food domestic demand and rising logistic costs while credit growth remainedstable, providing amble liquidity to support the economy recovery. After two months of decrease, the Consumer Price Index (CPI)increased by 0.3 percent month-on-month in November.
Food prices continued to trend down, falling by 0.2 percent month-on-monththanks to well-maintained food supply chains.
Compared to a year ago, the CPI roseby 2.1 percent year-on-year, slightly higher than in October, but well belowthe 4.0 percent target set by the State Bank of Vietnam.
The government continued its contractionary fiscal stance asthe budget balance posted another month of surplus, driven by strong revenuecollection, the report noted.
The policy of “living with COVID-19” will involve continuedvigilance and fast action by the authorities, both in vaccination and in socialdistancing, testing, and quarantining. There is also clear need for fiscal policysupport to boost private demand and help the domestic economy recover.Providing financial assistance to impacted workers and households would be anessential avenue to achieve this objective, according to the report.
Given the available fiscal space, and difficultiesregistered in implementing the budget in 2021, another policy option for consideration is a reduction inthe value-added taxes for 2022 to support private consumption./.
Population aging could slow down Vietnam's long-term growth in the 2020–2050 period by 0.9 percentage points compared with the last 15 years, a new World Bank (WB) report finds.
Politburo member and Secretary of the Hanoi Party Committee Dinh Tien Dung appreciated the World Bank (WB)’s aid for the capital while receiving WB Country Director for Vietnam Carolyn Turk on November 2.
The World Bank will always support Vietnam and Ho Chi Minh City in particular during the process of construction and development, WB Country Director for Vietnam Carolyn Turk said on November 29.
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On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam’s economic conditions continued to improve, according to the World Bank (WB). (Photo: vneconomy.vn) 
The Consumer Price Index (CPI) increased by 0.3 percent month-on-month in November. (Photo: vneconomy.vn)
