In a recent interview with Russia’s Sputnik Network, the professor noted that Viet Nam is in a period of stable economic development with GDP growth reaching 6.7%, the highest in nearly ten years after the global economic crisis.He cited statistics that showed Viet Nam’s GDP totaled nearly US$220 billion, and GDP at Purchasing Power Parity came to nearly US$600 billion. According to Mazyrin, one of Viet Nam’s important economic achievements is improvement in investment and business climate, which is reflected in the inflow of investment capital reaching US$33 billion in 2017, an 82.8% increase year on year.The country also saw the fastest-ever trade growth, he said, citing the statistics of the General Department of Viet Nam Customs as showing that the nation’s import-export value is estimated at US$410 billion in 2017, with a trade surplus of about US$3 billion.Mazyrin noted that while it took Viet Nam six years to increase foreign trade turnover from US$30 … [Read more...] about Russian expert hails VN’s spectacular economic growth
Growth
HCMC targets 10% growth in retail sales, export revenue
The sector will also strive to obtain 10 per cent growth in total export revenue via the city’s ports in 2018.Speaking at a meeting to review the department’s performance and set tasks for next year, Nguyen Tien Dung, head of the department’s finance bureau, said the industry and trade fields had outstanding growth rates this year with a 7.9 per cent increase of growth rate in the IIP, 11.32 per cent growth in the total retail sales of goods and services and 10.8 per cent growth in export turnover.The industry and trade fields gained added value of over VND355.6 trillion ($15.6 billion), accounting for 33.5 per cent of the city’s Gross Regional Domestic Product (GRDP), he said.Industrial production developed in a stable manner both in the short and long-term, he said, adding that modern trade infrastructure, with an increase of 18 supermarkets, three commerce centres and 218 convenience stores, together with online retail, contributed to boosting total retail … [Read more...] about HCMC targets 10% growth in retail sales, export revenue
Viet Nam’s IIP records impressive growth in 2017
The processing and manufacturing industry, which accounts for 90 per cent of the nation’s industrial production, grows by 14.5 per cent year-on-year in 2017, the highest level over the past six years. — Photo thoidai.com.vn The nation’s index of industrial production (IIP) in 2017 experienced a significant year-on-year increase of 9.4 per cent, much higher than 7.4 per cent rise seen in the previous year. The impressive growth was fuelled by the processing and manufacturing industry, which rose by 14.5 per cent year-on-year, the highest level over the past six years, head of the General Statistics Office (GSO) Nguyen Bich Lam said on December 28. Lam said the IIP would enjoy a stronger growth this year without a remarkable reduction of 7.1 per cent recorded in the mining sector. Meanwhile, two others -- electric production and distribution and water supply and waste treatment – rose 9.4 per cent and 8.7 per cent, respectively. Several sectors also recorded a … [Read more...] about Viet Nam’s IIP records impressive growth in 2017
Russian expert extols Vietnam’s exponential economic growth
In a recent interview granted to Russia’s Sputnik Network, the professor said that Vietnam is in a period of economic stability with GDP growth rising to 6.7%, the highest in nearly ten years after the global economic crisis.He cited statistics showing that Vietnam’s GDP hit close to US$220 billion, and GDP at Purchasing Power Parity neared US$600 billion.Mazyrin attributed one of Vietnam’s important economic achievements to improvements in investment and business climate demonstrated by the inflow of investment capital amounting to US$33 billion in 2017, a year-on-year rise of 82.8%.The country also posted the fastest-ever trade growth with import-export value is estimated at US$410 billion in 2017 and a trade surplus of about US$3 billion. Vietnam took only two years to raise trade turnover from US$100 billion to US$400 billion, he said.He also hailed Vietnam's efforts in stabilising the macro-economy and fulfilling all its 13 socio-economic … [Read more...] about Russian expert extols Vietnam’s exponential economic growth
Russian expert extols Vietnam’s impressive economic growth
In a recent interview granted to Russia’s Sputnik Network, the professor said that Vietnam is in a period of economic stability with GDP growth rising to 6.7%, the highest in nearly ten years after the global economic crisis.He cited statistics showing that Vietnam’s GDP hit close to US$220 billion, and GDP at Purchasing Power Parity neared US$600 billion.Mazyrin attributed one of Vietnam’s important economic achievements to improvements in investment and business climate demonstrated by the inflow of investment capital amounting to US$33 billion in 2017, a year-on-year rise of 82.8%.The country also posted the fastest-ever trade growth with import-export value is estimated at US$410 billion in 2017 and a trade surplus of about US$3 billion. Vietnam took only two years to raise trade turnover from US$100 billion to US$400 billion, he said.He also hailed Vietnam's efforts in stabilising the macro-economy and fulfilling all its 13 socio-economic … [Read more...] about Russian expert extols Vietnam’s impressive economic growth