On October 29, Prime Minister Nguyen Tan Dung chaired a government regular meeting reviewing the socio-economic situation and State budget performance in October and for the past ten months of this year.

Cabinet members also heard reports on the definition of standard poverty rate for the period 2016-2020, the draft ordinance on market management and the draft law on guard.

A socio-economic report presented by Minister of Planning and Investment Bui Quang Vinh showed the clear recovery of the national economy with a higher growth rate than the previous year.

Progress was seen in the national economy as a result of macroeconomic stability, lower rate of inflation at an estimated 2% increase for the whole year, higher rates of capital mobilization, high credit growth, improved business investment environment, reduced bad debts and higher growth of industrial production than last year.

In October, the number of international visitors to Vietnam continued to increase compared to a month earlier and last year’s corresponding period.

Foreign direct investment (FDI) worth US$ 19.3 billion poured into Vietnam in October a whopping rise of more than 40% over the same period last year. 

According to the General Statistics Office (GSO), Vietnam had 1,657 new FDI projects during the period with a total registered capital of more than US$12.4 billion, up by 27% and 25%, respectively. Of note, some US$11.8 billion were disbursed, up 16.3% against a year ago.  

In addition, there are sharp increases in the number of newly-established businesses and registered investment capital.

Foreign affairs and international integration achieved encouraging results while social welfare was improved and political security, social order and safety were also maintained steadily.

VOV