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Banking and insurance in 1st quarter of 2017 

 Wednesday, April 26,2017

AsemconnectVietnam - Up to March 16, 2017, the total means of payment increased 2.88% compared to the end of 2016 (same period last year increased 3.08%); Capital mobilization increased 2.43% (same period in 2016 increased 2.26%); Credit growth of the economy reached 2.81%.

The insurance market in the first 3 months maintained positive growth. Total market premiums for the first quarter of 2017 are estimated to increase by 20% over the same period of 2016, of which life insurance revenue rose 29%; Non-life insurance premiums increased by 15%.
Development Investment: Total investment capital in the first quarter at current prices was estimated at VND 297.8 trillion, up 8.6% over the same period last year and equivalent to 32% of GDP, including: capital from the state sector reached VND99.9 trillion, accounting for 33.5% of total capital and up 4.9% over the same period last year; Non-state sector reached VND 117.4 trillion, accounting for 39.4% and increasing by 13.8%; Foreign direct investment (FDI) reached VND80.5 trillion, accounting for 27.1% and 6.2% respectively.
The investment capital from the state budget in the first quarter was estimated at VND45.4 trillion, equaling to 15.6% of the yearly plan and up 5.3% against the same period last year, of which capital under central management reached VND 9.7 trillion, equaling 14.3% and increasing by 1.6%; capital under local management reached 35.7 trillion VND, equaling 16% and 6.4% respectively.
Foreign direct investment from the beginning of the year to March 20, 1977 attracted 493 new licensed projects with registered capital of US $ 2,917.2 million, up 4.2% in number of projects and 6.5% of registered capital over the same period of 2016. In addition, 223 projects licensed from the previous years registered to adjust the investment capital with an additional amount of $ 3,940 million. In the first 3 months, there were 1,077 shares of foreign investors with the total capital contribution of $ 852.9 million. Thus, the total registered capital of new projects, supplementary capital and investment in the form of capital contribution, purchase of shares in the first 3 months reached $ 7,710.1 million, up 77.6% compared with in the same period last year. Foreign direct investment in the first quarter was estimated at $ 3,620 million, up 3.4% over the same period in 2016.
State budget revenues and expenditures: Total state budget revenue from the beginning of the year to March 15, 2017 was estimated at VND 216.7 trillion, equaling 17.9% of the yearly estimate, of which domestic revenue was VND 175.5 trillion, equaling to 17.7%; Revenue from crude oil was 9 trillion VND, equaling 23.4%; The budget revenue from import and export activities was 32.2 trillion VND, equaling 17.9%.
Total state budget spending from the beginning of the year to March 15, 2017 was estimated at VND 229.1 trillion, equaling 16.5% of the yearly estimate, of which development spending was VND 32.6 trillion, By 9.1%; Regular expenditures were VND 173.2 trillion, equaling 19.3%; Interest payment was 23 trillion VND, equaling 23.2%. Loan payments from the beginning of the year to 15/3/2017 were estimated at VND38.4 trillion, equaling 23.4% of the yearly estimate.
 Source: General statistics office

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