The following are Vietnam’s top ten economic events in 2016.
The General Statistics Office said 2016 was a successful year in controlling inflation amidst rebounding prices of some essential goods
GSO General Director Nguyen Bich Lam said 2016 was a successful year in controlling inflation amidst rebounding prices of some essential goods, as the CPI in December increased by 4.74% from a year earlier, lower than the 5% target set by the National Assembly.
The Prime Minister has assigned specific socio-economic targets in 2017 to five ministries, with the Ministry of Planning and Investment tasked to strive for a 6.7% GDP growth and a 4% inflation.
The consumer price index (CPI) in the past 11 months of 2016 posted a year-on-year increase of 2.47%, the General Statistics Office (GSO) announced on November 28.
Vietnam’s National Assembly, the legislative body, on November 7 passed a resolution targeting economic growth of 6.7% for 2017, higher than the estimate for this year.
Prime Minister Nguyen Xuan Phuc has urged ministries, sectors and localities to take more drastic measures to enhance the management in the remaining months of the year in order to realise socio-economic development targets in 2016.
The Government’s monthly meeting opened on October 29 morning with focus on measures to create a leap in the last quarter’s economic growth rate and curb this year’s inflation within 5%.
The consumer price index (CPI) in the first 10 months of 2016 registered a year-on-year increase of 2.27%, the General Statistics Office (GSO) announced on October 28.
In the Southeast Asia region, Singapore tops the list of most favorable expansion destinations for Asian companies, with 32% of respondents saying they will invest more, followed by Vietnam, according to a recent survey by United Overseas Bank.
National Assembly Chairwoman Nguyen Thi Kim Ngan said high resolve and drastic and breakthrough measures are needed to achieve socio-economic development targets and create a momentum for following years in the context of numerous difficulties and challenges facing the country.
Economic growth this year would climb up to 6% on the back of recovery signs shown in the third quarter, falling short of the 6.7% target set by the Government.
Many investors are rushing to develop software park projects in Hanoi. Experts, warning about ‘software park inflation’, say that investors have ‘other purposes’ when eyeing such projects.
The Ministry of Planning and Investment is developing a plan on restructuring the economy by 2020 aiming to renovate the growth model towards improving efficiency and competitiveness of the economy.
The total revenue from retail trade and services hit US$89.6 billion during the first seven months of this year, up 9.4% year-on-year, according to the General Statistics Office (GSO).
Governor of the State Bank of Vietnam (SBV) Le Minh Hung has urged caution in price control as there will be a great pressure for raising lending rates in the time ahead.
Banking analysts from the Bank for Investment and Development of Vietnam (BIDV) have proposed several measures to better manage Vietnam’s public debt, which is viewed as a mounting problem for economic-planners.
Prime Minister Nguyen Xuan Phuc has ordered electricity prices and toll fees to be kept stable this year to control inflation and allow the economy to grow, according to the government website.
Prices of many basic commodities must not be increased this year to prevent a surge in the consumer price index, Prime Minister Nguyen Xuan Phuc has said.
Deputy Prime Minister Vuong Dinh Hue has affirmed the Government’s resolve to keep inflation at between 4-5 percent for the whole year following consecutive consumer price index (CPI) increases in the period from January to May.