Hanoi: Vietnam's socio-economic situation in October and throughout the first ten months of the year has demonstrated significant recovery signs, as reported by Minister and Chairman of the Government Office Tran Van Son at a press conference in Hanoi on November 4.
According to Vietnam News Agency, the macroeconomic stability of Vietnam has been maintained, with controlled inflation, promoted growth, and balanced major economic aspects. Notably, public debt, government debt, national foreign debt, and state budget overspending were well managed. The average consumer price index (CPI) for the first ten months increased by only 3.2%, staying below the set target of around 4.5%. State budget revenue reached nearly 1.4 quadrillion VND (about 57 billion USD), equivalent to 86.3% of the estimated figure.
The export and import sectors witnessed growth, with October exports increasing by 5.9% and imports by 5.2% year-on-year. The country has maintained a trade surplus of 24.61 billion USD, significantly higher than the previous year's 9.56 billion USD.
Agricultural product exports were particularly successful, amounting to 43.08 billion USD in the ten-month period. Industrial production also showed positive recovery trends, with the Index of Industrial Production in October expanding by 5.5% from September and 4.1% year-on-year.
Service trade activities maintained a high growth rate, with retail sales and consumer service revenue increasing by 9.4% compared to the same period last year. The tourism sector saw a remarkable increase in international visitors, reaching nearly 10 million in ten months, surpassing the annual target of 8 million visitors for 2023.
The business sector also showed encouraging signs, with 183,600 enterprises entering or re-entering the market, outnumbering those exiting. The total registered foreign direct investment (FDI) capital in the ten months reached over 25.76 billion USD, a 14.7% increase from the previous year. Additionally, the total realized FDI capital continued to grow, reaching 18 billion USD, marking a 2.4% increase year-on-year. Major high-tech companies and corporations have shown a strong commitment to investing in Vietnam.