FDI attraction reaches record high

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