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GDP expands by 5.66% in Q1
Vietnam's GDP grew by 5.66% in the first quarter, the highest rate for the period since 2020, according to the General Statistics Office.
Industry and construction grew at 6.28% and accounted for 35.7% of the GDP.
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Following close behind was the services sector with 6.12%, thanks to sharp increases in retail and tourism, which accounted for 43.5% of the economy.
Agriculture, forestry and fisheries grew by 2.98% and and was 11.8% of GDP.
The Consumer Price Index, which measures inflation, rose by 3.77% year-on-year during the quarter.
Foreign trade was worth $178 billion, up 15.5% from the same period last year, and there was a trade surplus of $8.08 billion.
Foreign lenders like Standard Chartered Bank and UOB had forecast growth of 5.5-6.1%.
The average retail electricity prices are to be adjusted no more than every three months starting from May 15.
Vietnam always treasures ties with Japan and activities of its investors in the country, Prime Minister Pham Minh Chinh told a delegation from the Japan Business Federation (KEIDANREN) led by Masayoshi Fujimoto and Masayuki Hyodo, Co-chairmen of KEIDANREN’s Japan - Vietnam Economic Committee at a working session in Hanoi on March 28.
Deputy Prime Minister Tran Hong Ha received Australian Ambassador to Vietnam Andrew Goledzinowski and leaders of Corio Generation of Australia’s Macquarie Group in Hanoi on March 28.
Foreign direct investment (FDI) plays a significant role in Vietnam’s wood industry. By the end of 2023, 706 FDI enterprises had invested in the wood industry, with their export value accounting for over 47% of the total export value of Vietnam’s wood industry.
An Action month for labour safety and hygiene in 2024 will be launched together with a Workers’ month in late April. One of the outstanding activities of the Action month will be a dialogue session of the National Council for Labour Safety and Hygiene, with the participation of many agencies.
The winners of the 18th Devotion Awards 2024 were officially announced and honoured at a ceremony held in Hanoi on March 27.
Source: VnExpress
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