Vietnam’s economy sees encouraging progress

(VOVworld)-Vietnam recorded positive economic developments in the first quarter of 2017, according to the Government’s monthly meeting for March. Statistics released at Monday’s meeting showed that the macrco economy was stable, inflation was estimated at 0.9%, exports grew 13% to hit 43 billion USD, and registered foreign direct investment reached 3 billion USD.

Vietnam’s economy sees encouraging progress - ảnh 1
Positive economic signals are reported during the Government's monthly meeting for March, 2017 (Photo: Thong Nhat/VNA)

In the first 3 months of this year, Vietnam welcomed 3.2 million foreign tourists while more than 26,000 new businesses were established. Prime Minister Nguyen Xuan Phuc applauded the achievements but told cabinet members that greater efforts should be made to control inflation and public debt, generate more jobs, and increase people’s incomes.

“We need to promote social investment. The success of our reform depends on the Government’s socio-economic governance. Is it possible to increase social investment to 35% of GDP? How should we allocate resources most effectively? How should we make full use of the mining industry?”, Mr. Phuc elaborated.  

Major topics of the cabinet meeting included the implentation of the socio-economic development plan and state budget estimates for this year.