Deputy Prime Minister Ninh stated that “Vietnam had accomplished its 5 year goals for the period 2011-2015 and would exceed the goals set for 2015”.
In the first 9 months of 2015 GDP growth reached a level of 6.5% exceeding the target for the year of 6.2-6.4%.
In the first 10 months of 2015 Vietnam’s total foreign trade reached US$ 272 billion an 11% increase over the same period of 2014.
Inflation is currently running below 1% and well below the target of 5% marking a 13 year low.
Whilst the exchange rate had depreciated more 1% more than expected due the devaluation of the Chinese RMB the rate is currently stable and shown strength against the US dollar in recent days.
The above were the result of systematic reform, which has resulted in much improved rankings by the World Bank in several areas.
The Government reforms the administrative system has also contributed to improved levels of Foreign Direct Investment. In the first 11 months of 2015, new investment commitments totaled US$ 12.4 billion whilst additional investment from existing FIE’s totaled US$6.8 billion, both significantly higher than in 2014.
Deputy PM Ninh said “was confident that 2016 would feature a stable macro-economic environment and higher GDP growth. There would be further structural reform which would further boost growth and whilst there still remained challenges the Government wanted to see improved governance and efficiency from business both local and foreign.”
Grant Thornton Vietnam
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