HCMC – Vietnam’s economy posted positive growth in the first two months of this year, with improvements over both the previous month and the same period last year, according to Minister of Finance Nguyen Van Thang.
Speaking at a Government meeting today, March 5, to review the nation’s economic and social performance, Thang noted that macroeconomic stability and rising business confidence were key trends early this year. Investors, businesses, and international financial institutions have shown increased optimism about Vietnam’s economic outlook.
Key economic indicators reflected this momentum. Inflation remained under control, with the consumer price index (CPI) rising 3.72% year-on-year. Vietnam recorded a trade surplus of nearly US$1.5 billion, while new foreign direct investment (FDI) approvals surpassed US$6.9 billion, up by 35.5% from the same period last year. FDI disbursement reached nearly US$3 billion.
Industrial production also expanded significantly, with the index of industrial production (IIP) rising by 16.7% in February year-on-year. The Government continued efforts to improve the investment environment, address obstacles for businesses, and accelerate major infrastructure projects.
However, Thang cautioned that key growth drivers had yet to achieve a breakthrough. Challenges include increasing competition in both domestic and export markets and weak capital absorption in the economy.
At the meeting, Prime Minister Pham Minh Chinh highlighted ongoing global uncertainties, including rising strategic competition and shifting trade policies, particularly tax adjustments that could impact global supply and demand.
He warned against complacency, noting that while Vietnam’s economy remains open and is in a transition phase, it still lacks strong resilience to external shocks. He urged ministries and agencies to develop strategies to achieve a minimum GDP growth rate of 8% this year, ensuring the successful completion of Vietnam’s 2021-2025 economic development plan.
