Speaking at the event, Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung said given impressive socio-economic achievements in 2018, Vietnam is expected to make breakthrough in 2019, towards achieving goals for 2016-2020.

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The Government continues giving priority to macro-economic stability, business environment and resilience improvement, he said, adding that economic growth and inflation was kept under close watch with timely guidance during the first quarter.

Nguyen Anh Duong, head of the CIEM’s research board, said Vietnam needs to address challenges regarding macro-economic foundation mentioned in the macro-economic report for Q1.

During the first quarter, the gross domestic product (GDP) grew by 6.79 percent, lower than the same period last year but higher than that during 2009-2017.

Manufacturing and processing firms are less optimistic about production and trade while businesses still meet difficulties when joining the market, especially burdens after their business registration and access to transparent information.

The consumer price index (CPI) rose by 2.63 percent while basic inflation went up 1.83 percent, proving that the monetary policy remains stable. As of March 20, outstanding loans rose by nearly 2.28 percent, lower than last year’s same period.

Economists also acknowledged improvement in the efficiency of combining fiscal and other macro-economic policies.

However, delay in the issuance of legal documents remains while legal enforcement is still slow.

This year, Vietnam is expected to join new-generation free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the European Union – Vietnam Free Trade Agreement and the Common Effective Preferential Tariff (CEPT) Scheme, which will give a boost to exports but barriers in administrative and governance mechanism remain.

Participants stressed the need to improve macro-economic foundation and renew economic institutions for a modern socialist economy.

Vietnam’s GDP growth is forecast to reach 6.88 percent, trade surplus at 3.1 billion USD and CPI roughly 3.71 percent in 2019.

Vietnam attends Eurasian Economic Forum of the Youth

Vietnamese students are joining more than 3,000 representatives from 72 countries and 126 universities worldwide at the Eurasian Economic Forum of the Youth, which is taking place in Moscow, Russia, from April 16-19.

 

Czech media highlights significance of boosting economic ties with Vietnam

The media in the Czech Republic have carried a number of stories about the upcoming official visit to the country by Vietnamese Prime Minister Nguyen Xuan Phuc from April 16 to 18, underlining the development of the bilateral economic partnership.

 

Supporting development of hi-tech mushroom production

(BGO) – The Department of Agriculture and Rural Development has issued the execution plan for the project of “Supporting the development of hi-tech mushroom production and consumption in the northern province of Bac Giang for the period of 2016 - 2020” in 2019.

 

Support trademark development for community farm produce

(BGO) – The People’s Committee in the northern province of Bac Giang has approved for the project to build and develop the provincial level community farm produce in the period of 2019 – 2021, the Department of Industry and Trade (DoIT) reported. 

 

Ministry of Science and Technology proposed to support development of Dang Shen

(BGO) – The Department of Science and Technology on March 21 held a conference themed “Solution to develop Sam Nam Nui Danh (Danh Mountain’s radix codonopsis javanicae or Dang Shen) in Bac Giang province”. The event was co-chaired by Deputy Minister of Science and Technology (MoST) Tran Van Tung and Vice Chairman of the provincial People’s Committee (PPC) Duong Van Thai. 

 

Source: VNA