Socio-economic performance in first half reviewed

VGP – The Government convened its regular meeting on Thursday to review the socio-economic picture in the first half of 2013.

The Government's regular meeting, Ha Noi, June 27, 2013: Photo: VGPThe Government’s regular meeting, Ha Noi, June 27, 2013: Photo: VGP

The Ministry of Planning and Investment noted that the economy was on the right track in the reviewed period. The GDP expanded 5% in the second quarter compared to 4.76% in the previous one.
Industrial production, especially processing and manufacturing sectors, has maintained recovery pace while inflation was tamed and prices were stable.

Export continued to maintain growth momentum and import kept growing, the Ministry said.

In the reviewed period, exports rose 16.1% to over US$62 billion in the first half of 2013, according to the Ministry of Industry and Trade. The import value stood at nearly US$63.5 billion, or a year-on-year increase of 17.4%.

The total FDI stayed at US$10.473 billion, up 15.9% against the same period last year while disbursement volume also soared 5.6% to US$5.7billion

However, the country is still facing numerous challenges, including unstable macro-economy, risk of recurrent inflation, rocky access to credits, and slow credit growth.

Concluding the meeting, PM Dung stressed the top priority of curbing inflation and stabilizing macro-economy in the second half of the year.

He called for stronger efforts to beef up economic development in order to realize the whole-year growth target of 5.5%.

PM Dung asked for further interest rate reduction and focus credits on priority areas like agriculture, exports, and support industries.

Inferior levels need to make more drastic efforts in restructuring the economy.

The Government chief also asked for quick operation of the Viet Nam Asset Management Company (VAMC) as part of the Government’s effort to deal with non-performing loans, revitalize financial transparency, minimize risks facing credit organizations and enterprises and promote reasonable credit growth.

By Ngoc Van

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