Economic growth with many bright spots

Vietnam is one of the economies that contributes the most to the positive growth of the Asia-Pacific region.

Vietnam is one of the economies that contributes the most to the positive growth of the Asia- Pacific region. This is the content of the recent economic outlook report of the International Monetary Fund.

Looking back at the statistics of the past 5 months, it can be seen that this growth comes from many different sources. In particular, the important factor is the internal strength of the economy and the continuous improvement in the production and business situation of enterprises.

New orders rose again, at the fastest pace since August 2022. This helped the April PMI to rise above the 50-point threshold, marking the third consecutive month of gains.

The number of new export orders also increased again, with exports increasing by 15% in the first four months of this year, with an estimated trade surplus of 8.4 billion USD. Export turnover to most major markets recovered well and grew strongly.

Ms. Dorsati Madani - Economist, World Bank in Vietnam shared: "We see positive signals from major markets such as the US, for example, with the US economic growth forecast at 2.3% this year. This is a large consumer market for Vietnam's exports. Therefore, export prospects will continue to be positive."

The trade advantage has helped strengthen Vietnam's position in attracting foreign investment. Total FDI in Vietnam in the first four months of the year reached nearly 9.3 billion USD, up 4.5% over the same period. Realized FDI increased by 7.4%. Notably, many localities have actively prepared infrastructure to attract high-quality FDI.

Vietnam is an economy that contributes the most to the positive growth of the Asia-Pacific region.

Mr. Mai Hung Dung - Vice Chairman of Binh Duong Provincial People's Committee said: "Based on the criteria in the world, we orient the contents of guiding businesses to invest in an increasingly green direction. At the same time, we focus on research to renovate existing industrial parks in the direction of water circulation, planting more trees, and saving energy".

Contributing to the economic growth in recent times is the disbursement of public investment capital, which has reached 17.7% of the plan assigned by the Prime Minister, equivalent to more than 116,000 billion VND, about 6,000 billion VND higher than the same period last year. Many projects are being constructed in 3 shifts, speeding up the progress of site clearance, acceptance and periodic payment. Even the flexible plan of transferring capital between localities and projects is also taken into account.

Mr. Tran Quoc Phuong - Deputy Minister of Planning and Investment said: "There is always a situation where some places are in shortage and some places are in surplus. And the surplus places must be transferred to the places in shortage to disburse all the money, not holding on to the money."

Mr. Shantanu Chakraborty - Country Director of the Asian Development Bank (ADB) in Vietnam commented: "Promoting public investment will increase the quality of infrastructure projects with the figure of over 27 billion USD planned to be disbursed this year. We appreciate the Government's determination to disburse over 95% of the capital plan".

The Asian Development Bank also stated that flexible monetary, fiscal and investment policies will be the key to Vietnam's growth in 2024.

Mr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council commented: "By continuing to implement the policy of extending, deferring, and reducing taxes and fees, thereby stimulating aggregate demand. With monetary policy, we must stabilize interest rates, control inflation, and stabilize exchange rates."

Vietnam's gross domestic product (GDP) in the first quarter is estimated to have increased by 5.66% over the same period last year. The Government's close guidance continues to help maintain the growth momentum for the rest of this year, with the annual economic growth target of 6-6.5% as set out in the National Assembly Resolution, gradually realizing the 5-year socio-economic development task (2021-2025) in the Documents of the 13th National Party Congress.

According to VTV.VN

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