Saturday, October 20, 2018 3:21:19 AM - Markets open
VN-INDEX 958.36 -5.11/-0.53%
HNX-INDEX 108.10 +0.18/+0.17%
UPCOM-INDEX 52.47 -0.23/-0.44%
Ministry upbeat about 2019 economic outlook
Vietnam News - 9/25/2018 1:32:16 PM
 (0 ratings. You must sign in to rate.)
HÀ NỘI — Việt Nam’s economy has a bright outlook in 2019 thanks to a stable macro-economy, according to the Ministry of Planning and Investment.
Trần Quốc Phương, director of the ministry’s Department for National Economic Issues, said at an online conference on Monday that the economy was on track to fulfill all 12 targets set by the National Assembly for 2019.
“One of the outstanding achievements this year is that the macro-economy has remained stable, creating a basis for faster economic restructuring and boosting development,” Phương said.
The ministry anticipated gross domestic product (GDP) to grow at 6.7 per cent in 2018 or even higher reaching US$240.5 billion.
Public debt was on track to be reduced to 61.4 per cent this year from 63.7 per cent at the end of 2016. Budget debt collection was forecast to increase by 5.5 per cent over 2017 to reach VNĐ1.35 quadrillion ($60 billion).
However, challenges remained, which would mainly come from outside sources due to the country’s limited production scale and economic openness.
Phương said that the pressure from the stronger US dollar, tensions from trade wars, increasing protectionism and unanticipated rising commodities prices were weighing on the domestic market, especially exchange rates, interest rates and inflation.
Improving the business climate was critical to boosting economic growth with a focus on price management, monetary and fiscal policies, he said, adding that financial discipline would also be strengthened.
According to Sử Ngọc Anh, director of HCM City’s Department of Planning and Investment, it was important to improve the quality of human resources.
In addition, Anh said that detailed instructions to implement the Law on Planning should be issued as soon as possible.
The problem is that many localities are still confused about how to apply the new law.
Anh said development planning was necessary for each province and city to consistently implement the Law on Planning.
The online conference also discussed the disbursement of public funds, official development assistance, foreign direct capital attraction, growth model transformation and proposed amendments to relevant laws, such as public private partnerships and public investment.
Minister of Planning and Investment Nguyễn Chí Dũng said that priority must be given to the implementation of solutions raised in the Government’s Resolution No 1/NQ-CP 2018. “What’s unfinished must be accelerated. What has not been addressed must be addressed.”
Dũng also urged efforts for economic restructuring to be hastened.
“We need to make three breakthroughs: completing the institutions, speeding up the construction of the infrastructure system and building human resources,” Dũng said.  
This was the first time the Ministry of Planning and Investment had held an online conference with localities to review socio-economic development. — VNS
Read original article here
Newer News
18/10 Vietnam to push on EU trade deal
12/10 PM discusses trade facilitation with Indonesia’s business leader
12/10 VN pledges to co-operate for ASEAN sustainable agriculture: Deputy PM
12/10 VN rice exports reaches new heights
11/10 VN struggles to export to ASEAN
11/10 Fuel prices set to put pressure on inflation
10/10 Dong Nai revokes licences of over 170 FDI projects
10/10 Vietnam earns 3.2 billion USD from auto accessories exports
10/10 Mekong Delta provinces attract more foreign investment
09/10 Seafood exports likely to rake in $9b this year
Older News
24/09 Southeast Asia consumes most of Vietnamese steel
21/09 Việt Nam helds international conference on export rice
20/09 Vietnam’s seafood exports to ASEAN expected to reach 1 billion USD soon
20/09 Vietnam’s agro-aquatic products strive to penetrate Russian market
18/09 Trade between Vietnam and India records surge
18/09 Vietnam qualified to export catfish to the US
17/09 Vietnam becomes increasingly attractive to foreign investors
14/09 Vietnam’s imported petroleum up 26.4 percent in eight months
06/09 Thai Nguyen emerges as ideal destination for foreign investors
06/09 FDI – a successful part in Vietnam’s economic development: WB economist
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 3:11:41 PM
VN-INDEX 958.36 -5.11/-0.53%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.