(MPI) - Speaking at the Government’s regular meeting held on March 2, Minister of Planning and Investment Nguyen Chi Dung stated that the macro-economy in the first two months of the year basically remained stable, the economy continues on a recovery path and FDI enterprises, international organisations continue to have optimistic growth forecasts for Vietnam. Ministries, sectors and localities have urgently and decisively implemented work before, during and immediately after Lunar New Year, striving to successfully complete all assigned tasks.

Minister of Planning and Investment Nguyen Chi Dung. Photo: VGP

The minister reported that the socio-economic situation in the first two months of 2024 continued to achieve many positive results, showing better improvement compared to the same period in 2023 across most areas, creating momentum for growth and development throughout the year. The macro-economy basically remained stable, inflation was under control, and major balances guaranteed;. The Consumer Price Index (CPI) for February rose by 3.98% year-on-year, with a 3.67% increase overall for the first two months; prices of basic goods remained stable, with no shortage or lack of goods during Tet festival. State budget revenue for the first two months is estimated at 23.5% of the forecast, up 10.4% over the same period.

The total trade turnover, exports, and imports for the first two months increased by 18.6%, 19.2%, and 18% respectively, with an estimated trade surplus of 4.72 billion USD.

Total FDI registered in the first two months reached nearly 4.3 billion USD, an increase of 38.6% compared to the same period (newly registered capital reached 3.6 billion USD, up 55.2%), of which the processing and manufacturing industry reached 2.54 billion USD, accounting for 59.1% of the total registered investment capital; realized capital reached 2.8 billion USD, an increase of 9.8%, showing FDI businesses’ confidence in the growth prospects, stability, and attractiveness of the Vietnamese investment climate. This is an opportunity for Vietnam to continue to promote FDI attraction, fully exploit opportunities, and facilitate the promotion of new industries and priority areas, creating new growth momentum for the economy.

Production and business activities continue to show positive changes. In total, for the first two months, over 41,000 businesses joined and returned to operation, an increase of 8.5% compared to the same period. Agricultural production continued to grow, and the export of agricultural products increased significantly. The Industrial Production Index (IIP) for the first two months rose by 5.7% compared to the same period (down 2.9% in the same period).

The service sector maintained a good growth rate, total retail sales of goods and consumer service revenue in February increased by 8.5% compared to the same period, with an overall increase of 8.1% for the first two months; international visitors in the first two months reached over 3 million people, an increase of 68.7% compared to the same period./.

Bao Linh

Ministry of Planning and Investment