Cabinet debates Jan-May socio-economic performance
09:06 | 02/06/2020
VGP – Prime Minister Nguyen Xuan Phuc presides over the Cabinet meeting Tuesday to debate socio-economic performance in the first five months.

Photo: VGP

The Cabinet members also discuss the implementation of the Resolution No. 01, report on investment capital for te 2021-2025 period, report on implementation of Resolution No. 17 on E-government development, among others.

Regarding socio-economic performance, official data showed that 5,056 enterprises resumed operation, up 32.7%, industrial production rose 11.2% and exports increased by 5.2% in May.

The total retail sales of goods and services soared 26.9% from April but dipped by 4.8% against the same period last year.

In the Jan-May period, industrial production only picked up 1% compared to the same period last year, due to disruptive of the supply chain.

Due to the serious impacts of the COVID-19 pandemic, foreign arrivals to Viet Nam fell by 48.8% to 3.7 million in the reviewed period, the General Statistics Office said Friday.

Of the total, 72.9% tourists were from Asia, down 51.4%. The fall was seen in almost all major markets, such as China (-57.2%), Malaysia (-53.9%), the Republic of Korea (53.4%), Japan (-48.2%), France (47.5%), the UK (-44.3%), and Russia (-23.2%). Tourism revenue was estimated at VND 8.3 trillion, down 54.1%.

he GSO said export turnover reached US$99.36 billion, down 1.7%year-on-year. The domestic sector’s export value was US$33.3 billion, up 10.4% compared to the same period last year, while the FDI sector’s exports, including crude oil, were valued at US$66.06 billion, down 6.9%.

Commodities seeing strong growth in export value during the period included machinery, equipment, tools, and spare parts with 25%; computers, electronic products, and components with 22.1%; rice with 17.2%; coffee with 2.9%; and cashew nuts with 2.2%.

Those with declining turnover were telephones and components (8.8%), textiles (14.5%), footwear (4.6%), fruit and vegetables (10.3%), rubber (29.6%), and pepper (17.9%).

Meanwhile, import value reached US$97.48 billion, down 3.% year-on-year, the GSO said.

The US was the largest importer of Vietnamese goods in the period, with turnover reaching US$24.6 billion, up 8.2%. It was followed by China with turnover of US$16.3 billion, up 20.1%.

Viet Nam's exports to the EU and ASEAN fell 12% and 13.4%, with turnover of US$12.9 billion and US$9.4 billion, respectively.

The Southeast Asian country lured a total of US$13.9 billion in foreign investment, down 17% from the same period last year.

There were 1,212 newly-registered projects capitalized at US$7.4 billion, down 11.1% in number and up 15.2% in capital.

Among 58 countries and territories having new projects in Viet Nam, Singapore was the largest investor, with more than US$4.3 billion, followed by Chinese Taipei with US$743 million, China with US$694 million, Hong Kong (China) with US$500 million, and the Republic of Korea with US$441 million.

By Ngoc Van

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