Vietnam’s index of industrial production (IIP) in the first four months this year expanded by 6 per cent year on year (YoY), according to the general statistics office (GSO).

Disbursed investment capital during the period from the state budget reached 20.1 per cent of the yearly plan—up by 5.9 per cent YoY, while disbursed foreign direct investment (FDI) reached $6.28 billion—up by 7.4 per cent YoY.

This capital injection acts as a catalyst to activate and attract more investment from the private sector.

The country’s import-export revenue reached $238.88 billion during the period, with trade surplus reaching $8.4 billion, higher than the $7.66 billion recorded in the same period last year. The export turnover alone hit $123.6 billion—up by 15 per cent YoY.

While inflation continues to be effectively controlled, an increase in the VND-USD exchange rate that creates inflationary pressure and can inhibit economic growth is a problem.

Therefore, the domestic economy is forecast to maintain the recovery process in the second quarter this year, but be slow to make a strong breakthrough as desired, a domestic news outlet reported.

Fibre2Fashion News Desk (DS)

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