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GDP up 4.59 pct in nine months
Vietnam’s economy is beginning to show signs of recovery, as its GDP for the first nine months of the year increased by 4.59 percent compared with the same period last year.
The Ministry of Planning and Investment announced at a working session in Hanoi on September 28 that the biggest rise was recorded in the service sector (5.91 percent), followed by industry and construction, (4.48 percent) and agriculture, forestry and fisheries, (1.57 percent).
Although the percentages were still lower than those of the same period last year, they are giving impetus to boost the country’s GDP to 5-5.2 percent for the whole of 2009.
The economic rebound can also be seen in the GDP’s growth of 3.11 percent in the first quarter, 4.46 percent in the second quarter and 5.76 percent in the third quarter.
Those figures partly reflect the joint efforts made by ministries, relevant agencies and local authorities nationwide as well as the drastic measures implemented by the Vietnamese government, according to the delegates attending the session. However, they also warned that further efforts are needed to keep a close eye on price hikes and the trade deficit which are showing signs of snapping back and to improve people’s quality of life, which is being undermined by natural disasters and pandemics.
Vice Minister of Planning and Investment Cao Viet Sinh urged ministries, relevant agencies and local authorities in areas with robust export earnings to find new export markets to keep exports from droping in the remaining months of the year. In the January-September period, export value was only US$41.7 billion, down US$6.5 billion from a year ago. He also called on them to make public their market forecasts and measures to tightly monitor price hikes and accelerate the disbursement of capital.
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