VN boasts for positive socio-economic development in 7 months

VGP - Việt Nam’s industrial production value has increased by 5.1% in the first seven months, while its export value dropped by 13.4% on-year to US$ 32.3 billion, a small drop compared to many foreign countries, according to the General Statistics Office.

July 31, 2009 7:00 PM GMT+7

Industrial production keeps rising in the first 6 months

The industrial production value of the non-state sector has climbed up 7.4% from January and July. The country’s figure grows by 7.6% in July.

The northern province of Quảng Ninh and the southern province of Bà Rịa-Vũng Tàu continue to keep their top position, with the high industrial growths of 11.5% and 10.5% respectively.

Seafood output in July is 450,200 tons, seeing a year-on-year increase of 0.7%.

The revenue of retail goods and services has stood at VND 643.6 trillion in the first 7 months, up 18.3% against the same period last year.

Most of export items have seen increase in volume, but slight rise or drop in value due to lower world prices.

The total import value is US $6 billion in July, up 1.7% against June, but down 20% compared to July 2008. The volumes of such key imports as petroleum, LPG and fertilizers have fallen in July.

The statistics office predicted that this year Việt Nam could obtain the GDP growth rate of around 5% and the CPI increase of below 10% against December 2008.

To this end, it has proposed five groups of solutions, namely continuing to quickly implement the Government’s stimulus packages; gradually restructuring the economy; maintaining major export markets while expanding the domestic ones, especially the rural market; preventing inflation by implementing flexible financial and monetary policies; and speeding up poverty reduction.

By Ngọc Vân