The country's industrial production and total retail sales of consumer goods and services rebounded as economic activities gradually resumed but have yet to recover to the levels recorded before the outbreak, which began in April.

A factory of An Thang Garment Company in Hanoi's Dong Anh District.

Goods trade balance registered a surplus for the second month in a row as import growth continued to slow down. For the first ten months of this year, Vietnam enjoyed a trade surplus of US$160 million. Meanwhile, the number of registered FDI decreased after three months of increase.

Despite rising fuel prices, inflation remained subdued due to falling food prices and weak domestic demand for other consumer products. Credit growth was stable in October.

State budget revenue and expenditure balance returned to surplus in October mainly driven by a sharp fall in budget expenditures although revenues continued to decrease for the third month. In general, for the ten-month period, the budget surplus was a sign that tight fiscal policy would continue to be implemented.

According to WB experts, Vietnam is facing many obstacles in restarting the economy after a prolonged period of social isolation, but the positive developments observed in October showed that the situation will continue to improve, and growth will accelerate in the months to come.

Bac Giang develops craft villages as driving force for local economy

(BGO) – For recent years, Bac Giang province has many supporting policies for the development of rural craft villages to create jobs, increase income and switch labour structure according to new rural style building criteria, which significantly contribute to the provincial economic, cultural and social development.  

Foreign investors maintain confidence in Vietnam’s economy

Vietnam attracted US$ 14 billion in foreign direct investment (FDI) in the first eight months of this year, only 2% lower than the same period last year, showing foreign investors’ confidence in Vietnam’s economic scenario in mid-and long terms.

Firms want HCMC to reopen economy soon

Businesses want HCMC to reopen its economy soon to ensure their survival after over three months of social distancing amid prolonged Covid-19 outbreaks.

Source: NDO/VNA