Vietnam Economy Heading to Meet 2017 Growth Target of 6.7%: PM

Vietnamese Prime Minister Nguyen Xuan Phuc pointed out a brighter picture of the local economy.

Vietnam’s economic growth has been gaining momentum and is heading to meet the whole-year target of 6.7% this year, Prime Minister Nguyen Xuan Phuc told the National Assembly at the opening of a month-long sitting on Monday.

Average inflation in 2017 is forecast at around 4%, meeting the target, while foreign reserves have increased $6 billion this year to reach an all-time high of more than $45 billion, he said in a televised speech.

He noted that public debt is still within the permitted limits and is on a downtrend.

Actual foreign direct investment (FDI) has hit a new record high and the stock market is now at a peak not seen since 2008, he added.

In her opening remarks, Chairwoman of the National Assembly Nguyen Thi Kim Ngan pointed out that fiscal deficit and public debt remain while the equitization process of state-owned enterprises has not met expectations.

Tuan Minh / BizLIVE