Foreign institutions optimistic about Vietnam’s economy

International organizations have had positive comments on Vietnam's economic prospects, Mai Tien Dung, Minister-Chairman of the Government Office, said on Thursday at a press conference following the monthly government meeting for July.

Mr. Dung said the assessments came despite complicated developments in the East Sea and global economic slowdown. He cited reports by the IMF, the World Bank, and the Asian Development Bank which predicted Vietnam's economy to grow at between 6.5% and 6.8% this year.

According to a recent report by the World Intellectual Property Organization (WIPO), Vietnam jumped three spots to rank 42nd among 129 economies in the Global Innovation Index (GII).

Minister Dung said: Many of Vietnam's sub-indices like research, infrastructure, knowledge and technology, and innovation all went up. These are important sub-indices, especially when Vietnam is boosting startups, reform, and innovation.

Mr. Dung said Vietnam's ranking in Nikkei's ASEAN Manufacturing Purchasing Managers' Index increased slightly, adding that the country's production output will likely continue to enjoy 2-digit growth in the third quarter.

He noted that the Consumer Price Index (CPI) in the past 7 months increased 2.6% against the same period last year, the lowest over the past three years.

Vietnam's export revenue reached more than 145 billion USD, up 7.5%. Notably, domestic enterprises' exports grew more than 12%, doubling the FDI sector's figure. Agricultural production grew 9.4% while electricity supply was ensured, Mr. Dung added.

The number of foreign visitors to Vietnam has reached 9.8 million since the beginning of this year, up 7.9%.

Source: VOV5