Vietnamese economy witnesses new records

The Vietnamese economy was forecast to gain a GDP growth rate of 7% and an impressive export turnover record of US$ 500 billion in 2019. 
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Minister of Industry and Trade Tran Tuan Anh. (Photo: Tuan Anh)

The achievements are of significance as a large number of countries in the region and other parts of the world experienced an economic slowdown. In the first 11 months, Vietnam ran a trade surplus of nearly US$ 11 billion, a new record high.

Minister of Industry and Trade Tran Tuan Anh assessed this as an extremely impressive figure.

Meaningful figures

Minister Tuan Anh added that US$ 500 billion two-way trade turnover is impressive, helping Vietnam enter Top 30 of best trade performers.

He attributed the Government’s determination to accelerating the administrative reform; perfecting the legal system; and improving the business and investment environment to the achievements.

According to the Minister, the positive trade outcomes were owing to the integration strategy and signing of 16 FTAs.

However, the Minister stressed that besides positive factors, 2020 would be a difficult and challenging year due to complicatedly political and commercial aspects, especially trade disputes, regional and international instability, security, and sovereignty disputes.

Hence, he underlined the necessity to maintain the macro-economic stability and peaceful environment for Vietnam and its partners; focus on institutional reform; and continue with the integration strategy; consolidate the cooperative framework among state offices and the business community.

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(Source: VGP)