FDI attraction reaches record high
10:26 | 29/09/2017

VGP – Deputy PM Vuong Dinh Hue presided over a meeting of the National Advisory Council on Finance and Monetary Policies to evaluate macro-economic indicators in Q3 and the first nine months of 2017 on September 28 in Ha Noi. 

Deputy PM Vuong Dinh Hue

The meeting targeted to assess and make recommendations to the Government on macro-economic performance at the next regular meeting scheduled in early October. 

A large number of the Council members agreed that the monetary and fiscal policies were regulated at a stable manner, thus contributing to developing macro-economic indicators positively.

Accordingly, inflation rate was controlled under 4%. In September, CPI jumped 0.59% due to consecutive adjustments of petrol prices. In January-September, inflation rate picked up 1.45% and was forecast to reach about 1.5-1.8%, lower than the preset goal of the National Assembly.

Gross Domestic Product (GDP) surged 7.46% in Q3 (5.15% in Q1 and 6.28% in Q2). In the first three quarters, GDP increased 6.41% on average. Experts attributed the big surge to increasing rates of industry (up 13.2% against the same period last year) and export (19.5%). 

The foreign currency market was kept stable. FDI attraction reached a record high. As of September 20, Viet Nam attracted US$ 6.9 billion of FDI, representing a year-on-year growth of 21.7%. In the first nine months, FDI disbursement valued at US$ 12.3 billion, up 15% against the same period last year. 

The Government allowed the State Bank of Viet Nam to raise credit growth from 18% to 21%. Credit growth progressed after Resolution 42/NQ-CP on pilot program of NPLs. 

Members of the Council suggested the Government and the PM continue to conduct the administrative reform, streamline business and investment procedures; facilitate trade for enterprises; early amend and issue policies to attract enterprises to invest in agriculture and rural areas; cut lending interest rates; and reduce production costs./. 

By Kim Loan 

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