Vietnam’s economy stays positive amid global growth slowdown

(VOVWORLD) - Vietnam’s economy remained positive in the past 11 months despite the slowdown in global economic growth, especially in Asia, said Prime Minister Nguyen Xuan Phuc while chairing the Government’s regular meeting for November on Monday. 
Vietnam’s economy stays positive amid global growth slowdown - ảnh 1 The Government holds the regular meeting for November on December 2, 2019. (Photo: VNA)

He noted that at the year-end National Assembly session, lawmakers applauded the Cabinet’s governance as seen in the fulfillment of all the 12 set targets, especially the growth target, set by the parliament. Cabinet members said that  macro-economic stability was maintained, FDI hit nearly 32 billion USD, and a trade surplus of more than 9 billion USD was recorded in the reviewed period.

Deputy Minister of Industry and Trade Do Thang Hai announced measures to boost the domestic automobile industry: “We will protect and develop the domestic auto industry through technical means which conform with international commitments. Incentives will be adopted to upgrade the transport infrastructure and encourage credits for automobile purchases."

"Auto taxes and fees will be adjusted to reduce production costs while better policies will be offered to attract investment from major transnational firms focusing on brands that have not been manufactured in ASEAN,” said Deputy Minister Hai.

The Finance Ministry is expected to propose revisions to automobile policies, underling the development of the support  industry.