The Hanoitimes – The soar in manufacturing and processing has been considered a key driver to boost the growth of the entire industrial sector last year, said Minister of Industry and Trade Tran Tuan Anh. According to Anh, the nation’s index of industrial production (IIP) last year experienced a significant year-on-year increase of 9.4 per cent, much higher than 7.4 per cent rise seen in the previous year and also surpassed the yearly target of 7.1-8 percent. Electronics, computer and optical products reported a surge of 33 percent last year The impressive growth was fuelled by the processing and manufacturing industry, which rose by 14.5 per cent year-on-year, the highest level over the past six years, Anh said. Reports from the General Statistics Office also showed that the IIP could enjoy a stronger growth last year without a remarkable reduction of 7.1 per cent recorded in the mining sector. Meanwhile, two others — electric production and distribution and water supply and waste treatment – rose 9.4 per cent and 8.7 per cent, respectively. Several sectors also recorded a surge in IIP, such as electronics, computer and optical products (33 per cent), metal manufacturing (18 per cent), rubber and plastic products (14 per cent) and paper production (10.2 per cent). Among key industrial products with high IIP increases in 2017 included raw steel and iron (32 per cent), television sets (31 per cent), fabric (12.6 per cent) and urea (10.4 per cent). However, some products saw lower growth rates,… [Read full story]
Foreign tourists at a fishing village in the south central province of Binh Thuan The three-day Independence Day holiday at the beginning of this month saw a wave of local tourists rushing overseas with short tours organized by Vietnamese travel companies. Fiditour, one of the country's leading tour operators, said 2,500 customers bought trips to foreign countries like Thailand and Singapore, while only 2,000 chose local tours. The trend isn't surprising. According to local tour operators, many foreign tours are often offered with discounts. In Thailand, vacation packages with free shows and fruit garden trips have become increasingly popular. A…... [read more]
Foreign businesses topped industrial production in May in Ho Chi Minh City with VND13.41 trillion (US$838 million) or 3.2 percent higher month-on-month, the city Statistics Department reported. Non-state domestic enterprises were second with VND12.35 trillion, a 3.4 percent growth. The state sector came in last with just VND7.71 trillion. Vietnam calculates industrial output in monetary terms though it is not clear what prices they are based upon. Most of the 22 industries in which foreign firms operate enjoyed growth, with automobile topping with a growth of 48.6 percent, followed by electricity production with 47.8 percent, TV and radio with 46.9…... [read more]
HÀ NỘI —The Vietnamese economy urgently needs to find new drivers for growth in the period from 2018-20 to achieve rapid but sustainable development, Deputy Prime Minister Vương Đình Huệ said at a conference held by the Việt Nam Academy of Social Sciences in Hà Nội on Wednesday. Huệ said that the economy was growing but uncertainty about the future lingers, given the challenges posed by trade liberalisation, technological change, the impacts of climate change and constraints on fiscal and monetary policies. “There’s no other way but to transform to an innovation-led growth model and hasten economic restructuring,” he said.…... [read more]
A Driver For Growth By staff writers The construction industry is expected to contribute significantly to Vietnam’s economic growth Along with strong domestic consumption, the construction industry plays an important role in maintaining Vietnam’s economic growth on the backdrop of falling exports and plunging foreign investment. While other sectors of the economy like agriculture, manufacturing and services are struggling to stay afloat, the industry has achieved positive growth thanks to the Government’s economic stimulus measures, lower interest rates and falling prices of building materials. Figures from the Ministry of Construction show that the industry achieved a year-on-year growth rate of…... [read more]
Business recovery seen as major driver for growth Quoc Hung and Binh Nguyen By Quoc Hung and Binh Nguyen - The Saigon Times Daily HCMC – The Minister of Planning and Investment said on Wednesday the Government would do everything to help companies recover their operations and attract more foreign direct investment (FDI), as these are regarded as a curable medicine to the country’s economic growth restoration in 2013 and the years to come. Bui Quang Vinh underscored the key message at the Vietnam-Singapore Business Forum, which began on Wednesday and attracted more than 300 representatives of foreign and domestic…... [read more]
