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Economic highlights in 2014

 VietNamNet Bridge – The national economy has witnessed positive changes in 2014 with the following five remarkable signals.

VietNamNet Bridge – The national economy has witnessed positive changes in 2014 with the following five remarkable signals.

 

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Improving economic indicators

All macro-economic indicators improved against the previous year with the gross domestic product (GDP) expanding around 5.6-5.8%.

Over the past 11 months, the industrial production index increased 7.5% compared to 5.6% of the same period last year. The index gradually went up from 5.3% in Q1 to 6.9% and 7.8% Q2 and Q3 respectively.

Viet Nam welcomed 7.217 foreign visitors, a year-on-year increase of 5.4%. Noticeably, the number of tourists from Russia and China rose respectively 25.2% and 5.1%.

It is estimated that more than 68,000 enterprises were established with the total registered and additional capital of VND936 trillion and 14,208 enterprises resumed operations, up 11.8%.

The nation lured 1,427 fresh FDI projects with the total registered capital of nearly US$14 billion, up 21.4% while 515 other projects expanded investment worth more than US$3.92 billion.

FDI disbursement volume in the first 11 months was estimated to at US$11.2 billion, up 6.2% against the same period last year.

Stable financial market

The securities market remains a magnet for foreign investment.

Interest rates kept on spiraling while credit growth came up to expectations.

The bad debts and weak financial organizations were gradually controlled and handled.

Recovering real estate market

The real estate market was getting warmer, particularly in social and low-cost housing segments. Successful transactions saw a twofold and one-third increases in Ha Noi and Ho Chi Minh City respectively over the past 11 months.

The inventory rate dropped by around 13-15% compared to the end of 2013.

Low inflation rate

According to the General Statistic Office, the average consumer price index (CPI) between January and November stood at 4.3%, the lowest figure over the past 10 years.

The CPI decrease was partly attributed to the reduction of petroleum prices and public investment as well as effective control of the prices of essential commodities.

Improving business environment

In 2014, the Government took drastic measures to slash tax and interest rates, streamline administrative procedures, improve public services and equitize State-owned enterprises.

Besides, the country continued its deeper international integration, especially the conclusion of negotiations on free trade agreements with the Republic of Korea and the Customs Union of Russia, Belarus and Kazakhstan.

VGP

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