Tuesday, 21 Nov 2017

Gov't monthly meeting emphasized foreign direct investment attraction

Updated at Thursday, 04 May 2017, 17:30
The Hanoitimes - Presiding over the Cabinet meeting on May 4, Prime Minister Nguyen Xuan Phuc review socio-economic performance in the first four months this year.
Looking back the socio-economic situation in the past month, the Government leader expressed delight at the strong growth in the number of tourists in the four-day national holiday on the occasion of the anniversary of the Liberation of the South and National Reunification.

PM Phuc also required the Minister of Industry and Trade to take measures to address the declining exploitation and production of the mining sector. He has told the Ministry of Agriculture and Rural Development (MARD) to draw lessons and seek ways to improve the poor management of the farm produce market, with the most recent example being the slump in the price of pork, causing great losses to farmers. He noted that the macro-economy and consumer price index remained stable, while economic growth pace continued to recover and credit was at the highest growth rate in recent years.

Foreign direct investment attraction continued to rise with 10.8 billion USD of investment so far this year, while State budget collection showed good signs, he said, adding that in April, nearly 40,000 new businesses were set up, along with 825 trillion VND (36.2 billion USD) in investment poured into the economy. Analysing the weaknesses and problems that need to be addressed promptly, the PM mentioned the delay in the distribution and disbursement of public investment capital. 

As of April 20, the country granted investment certificates to 734 new projects with a total registered capital of US$4.88 billion, equal to 96% of the same period last year, according to the Foreign Investment Agency, under the Ministry of Planning and Investment. Besides, 345 other projects increased US$4.36 billion in investment capital, a year-on-year increase of 241.8%.

In addition, foreign investors also committed to pour US$1.35 billion in capital contribution to and shares purchase from local firms, up 106.8%, sending the total investment capital pledged in the first four months to US$10.95 billion, up 40.5%. As of April 20, US$4.8 billion in FDI were disbursed, up 3.2%, reported the agency.

In the first four months of this year, 39,580 enterprises were established with combined capital of VND369.6 trillion (US$16.25 billion), up 14% and 48.9% year on year, respectively. Together with VND455.7 trillion (US$20.04 billion) added into already established firms, VND825.3 trillion (US$36.2 billion) was pumped to the economy in the first four months of 2017.

At the same time, 11,545 businesses resumed operations, an increase of 1.9% year-on-year. The consumer price index (CPI) in April remained unchanged from the previous month, but up 4.3% against the same period last year, official statistics showed. The average monthly index in the Jan-April period rose 4.8% compared to the same period last year. Retail sales, services revenue up 6.7%

The country’s total retail sales and services revenue picked up 6.7% to VND1,267.9 trillion (US$56.7 billion) in the first four months of this year compared to 7.8% of the same period last year. Revenue of accommodation and catering services in the reviewed period surged 11.3% to VND153.4 trillion. The national industrial production increased 5.1% on average in the first four months of 2017 compared to 7.9% of the same period last year.
Translated by Anh Kiet
(Source: Kinhtedothi.vn)
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