Vietnam maintains socio-economic recovery in January: Official

Hanoi (VNA) – The Government’s regular meeting on January 28 reviewed drastic and timely actions taken by the National Assembly, the Government and the Prime Minister, which have positively impacted socio-economic development in the first month of this year, heard a press conference later on the same day.

Minister-Chairman of the Government Office Tran Van Son told the press conference following the Cabinet meeting that Vietnam continued its socio-economic recovery trajectory in the month.

The Government, however, pointed out challenges posed by the COVID-19 pandemic and regional and global uncertainties, which require ministries and agencies to stay vigilant, take prompt actions and make greater efforts to implement set tasks, solutions, programmes and plans to achieve the highest growth target and create a foundation and momentum for recovery and development in 2021-2025, he said.

PM Pham Minh Chinh asked ministries and agencies to quickly return to work right after the Tet (Lunar New Year) holiday, which lasts from January 31 through February 4, and speed up the disbursement of public investments, according to the official.

Son attributed achievements recorded in January to the shift to safely and flexibly adapting to and effectively controlling the pandemic and the acceleration of the vaccine rollout, which have facilitated the resumption of socio-economic activities.

The macro-economy remained stable and inflation edged up 0.19 percent from December and 1.94 percent year-on-year, he said, adding that overall inflation increased 0.66 percent year-on-year.

The monetary, credit and foreign exchange markets were stabilised, with good liquidity. As of January 25, capital mobilisation rose by 0.74 percent and credit grew by 1.92 percent compared to the end of 2021. Interbank interest rate also tended to increase slightly.

As of January 31, the disbursement of State budget capital in 2022 fulfilled 2.5 percent of the plan assigned by the PM.

Meanwhile, more than 1.61 billion USD worth of foreign direct investment (FDI) was disbursed, representing a year-on-year increase of 6.8 percent. The industrial production index continued to rise in the month, and the agro-forestry-fishery sector maintained its stability.

The numbers of newly-registered enterprises and those resuming their operations also rose by 28.9 percent and 194 percent, respectively, from the same period last year.

This was the highest-ever rise, reflecting the business community’s confidence in the national economy’s prospects this year, Son said.  

Total import-export turnover in January was estimated at 58.5 billion USD, up 6.3 percent year-on-year, of which export revenue reached 29 billion USD, up 1.6 percent, and import value was some 29.5 billion USD, up 11.5 percent.

Competent agencies and localities have worked hard to address cargo congestion at northern border gates, the official noted./.