The GSO reported that GDP growth in the third quarter of this year was estimated at 6.88% compared to 7.45% of the first quarter and 6.73% of the second quarter. The country is forecasted to see GDP growth of 6.11% in the fourth quarter.
Vietnam is expected to obtain GDP growth of 6.7% this year
This year, the average labour productivity of a Vietnamese person is expected to reach around VND100 million (USD4,545) which is a sharp rise compared to the productivity of VND60.73 million per labour last year.
Annual inflation would be contained at less than 4% while budget revenues are expected to reach VND1.3 quadrillion (USD55.9 billion), up 3% compared to the target figure.
The budget deficit is projected to reach 3.67%, below the National Assembly’s target of 3.7%.
In the first nine months of this year, 96,611 new businesses were set up in Vietnam with a total registered capital of VND963.4 trillion, up 2.8% in business number and 6.7% in capital value on-year. The average capital of new businesses was VND10 billion, up 3.8%
According to the National Centre for Socio-Economic Information and Forecast (NCIF), newly signed free trade agreements are projected to bring breakthroughs in investment as well as the expansion of export markets. Localities and ministries have also initiated efforts to improve the business investment environment. These are expected to boost domestic economic development by the end of the year.
A number of large enterprises, such as Samsung and Formosa, are predicted to experience major expansion in terms of production and business this year, boosting growth in the processing and manufacturing industry and creating momentum for domestic economic development.
