Vietnamese economy shows positive signals in January
Updated : Tuesday, February 06, 2018 3:09 PM (GMT+0700)

TheVietnamese economy showed positive signals in January with hikes inexport-import as well as domestic and foreign investment. 

 
Illustrative image - Source: VNA

According to the GeneralStatistics Office (GSO), there were nearly 11,000 newly-established firmsnationwide with a total registered capital of 98.3 trillion VND (4.36 billionUSD) in the month, up 20.6 percent in volume and 8.9 percent in value. Theadditional capital hit 316.4 trillion VND, proving that business confidence isimproving. 

During the first month of2018, the State investment hit 16,175 billion VND, or 4.9 percent of the yearlyplan and up 13.9 percent annually. 

Notably, the industrialproduction index surged by 20.9 percent year-on-year as firms focus onmanufacturing to meet demand during the upcoming traditional Lunar New Year.Among industries, manufacturing and processing sector expanded by 23.8 percentwhile other sectors posted year-on-year growth such as mining, electronics,computers and optical products, coal mining and apparel. 

The consumer price indexrose by 0.51 percent monthly and 2.65 percent annually due to higherelectricity and fuel prices, said acting Director of the GSO’s Price StatisticsDepartment Do Thi Ngoc. 

As the Lunar New Year isdays away, costs of housing repair services, railway tickets and health caremoved higher, thus driving CPI up, she said. 

Also in January, the totalexport-import value surpassed 38 billion USD, 19 billion USD of which wasexport, up approximately 33.9 percent. Top five currency earners include mobilephones and spare parts (4.2 billion USD), apparel (2.3 billion USD),electronics and accessories (2.2 billion USD), footwear (1.3 billion USD),machinery and equipment (1.05 billion USD). 

However, only roughly 1.25billion USD in foreign direct investment (FDI) was recorded, equivalent to 75.9percent in the same period last year. The FDI disbursement went up 10.5 percentto 1.05 billion USD. The top investors remained the Republic of Korea andSingapore. 

The Overseas InvestmentAgency said the newly-registered capital fell strongly as only projects worth100-300 million USD were licensed, accounting for nearly 71 percent of thetotal. 

The Ministry of Planning andInvestment asked ministries, agencies and localities to complete assigningsocio-economic targets, State budget estimate and devising public investmentplan for 2018, as well as accelerate disbursement from early this year. 

It also requested preventingepidemics on plants and animals, closely controlling cross-border fowl andcattle transportation and ensuring food safety and hygiene.

Source:VNA

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