Many sectors of the Vietnamese economy have continued to see an upward trend in August and the first eight months of 2023, according to data released by the General Statistics Office (GSO).

Specifically, the industrial production index in August rose 2.9% against the previous month and 2.6% from a year earlier, marking the fourth consecutive month of the sector’s return to growth.

The trade surplus during the January-August period was estimated at 20.19 billion USD, a strong surge from the 5.26 billion USD during the same period last year, with key exports including mobile phones, timber, seafood, fruit and vegetables and electronic goods.

It is notable that tourism witnessed spectacular growth, with 1.2 million foreign arrivals in August, a 2.5-fold increase from a year ago, raising the total number of foreign visitors to Vietnam in the first eight months to 7.8 million, more than five times the figure last year.

Public investment disbursement as of August was estimated at 49.4%, up 23.1 percentage points from a year earlier, thanks to the bold efforts of the central government, ministries and local authorities to boost economic growth with public spending.

Foreign direct investment pledges rose by 8.2% to reach 18.15 billion USD, a highly encouraging figure amid global and regional economic difficulties, demonstrating foreign investors’ continued confidence in the Vietnamese economy.

Business registration in August also fared better than the previous month, with more than 14,000 newly established companies, which are expected to pour in 135.3 trillion VND (5.6 billion USD) into the economy and employ nearly 80,000 workers.

Inflation is being moderated and averaged at 3.1% in the first eight months of the year, compared to 4.18% in the first quarter and 3.29% in the first half of the year.

NDO