Industry growth predicted to hit over 6.8 percent in Q1
Wednesday, March 21,2018AsemconnectVietnam - Industry is forecast to lead all sectors in terms of growth at 6.87 percent each in the first quarter of 2018, according to the National Centre for Socio-Economic Information and Forecast (NCIF).
Dr. Dang Duc Anh, head of the centre’s Department of Analysis and Forecast, said the surge of 17 percent of the manufacturing and processing industry in the first two months of this year would drive the whole industry sector.
According to the centre, which is run by the Ministry of Planning and Investment, economic growth of the country in the first quarter may reach 6.23 percent, up from 5.15 percent in the same period last year.
The NCIF predicted the service sector will expand 6.74 percent in the first quarter, while inflation many reach 3.1 percent, higher than in the same period last year.
Continuing from 2017, progress has been seen in all economic indications in the first quarter of 2018 thanks to busy manufacturing, construction, trade, wholesale and retail, banking and tourism sectors.
GDP growth in 2018 is now predicted to hit 6.83 percent, higher than the centre’s forecast in December last year.
The Government’s efforts in removing difficulties facing businesses are expected to help boost the industry and construction sectors.
Meanwhile, agro-forestry-fishery is forecast to continue expanding as measures to develop sustainable agriculture are becoming effective.
At the same time, economic experts said the three main factors boosting economic growth this year include drastic actions of the Government in improving the business environment, and stability in macro-economic policies.
Additionally, major projects in the processing and manufacturing sector and the newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are predicted to lift investment and trade, they added.-
According to the centre, which is run by the Ministry of Planning and Investment, economic growth of the country in the first quarter may reach 6.23 percent, up from 5.15 percent in the same period last year.
The NCIF predicted the service sector will expand 6.74 percent in the first quarter, while inflation many reach 3.1 percent, higher than in the same period last year.
Continuing from 2017, progress has been seen in all economic indications in the first quarter of 2018 thanks to busy manufacturing, construction, trade, wholesale and retail, banking and tourism sectors.
GDP growth in 2018 is now predicted to hit 6.83 percent, higher than the centre’s forecast in December last year.
The Government’s efforts in removing difficulties facing businesses are expected to help boost the industry and construction sectors.
Meanwhile, agro-forestry-fishery is forecast to continue expanding as measures to develop sustainable agriculture are becoming effective.
At the same time, economic experts said the three main factors boosting economic growth this year include drastic actions of the Government in improving the business environment, and stability in macro-economic policies.
Additionally, major projects in the processing and manufacturing sector and the newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are predicted to lift investment and trade, they added.-
Source: Vietnamplus.vn
Coffee exports reached 1.2 million tonnes in first 8 months of 2023
DAILY: Vietnamese pepper prices increased by 500 VND on September 5
DAILY: Vietnamese coffee prices increased by 100 VND on September 5
Hanoi welcomes nearly 17 million tourist arrivals in eight months
Vietnam-Indonesia trade expected to exceed 15 billion USD soon
Legal changes expected to increase appeal of Vietnam's real estate market
Tax authorities to cut at least 20% of compliance costs related to business activities
FDI in Vietnam totaled over 18 billion USD in first 8 months of 2023
Vietnam’s exports and imports of goods increased in August
Textile, garment exports to Canada to likely reach US$2 billion
Vietnam steel market update: Prices hit 3-year low
Niche markets, opportunities for textile, garment exports
Vietnam seafood market update: Tuna exports narrow the decline
Over 416 million USD invested abroad in 8 months
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...