Many positive signs on Vietnam’s economic growth 2019

Even though being lower than the growth of the same period last year, the economic statistics of the 2019 first quarter still showed many positive signs of strong growth in the whole 2019. International organizations had been forecasting about 2019 Vietnam growth and stating recommendations on difficulties for Vietnam’s economy.

According to a report by Nikkei, business psychology was still very optimistic when Vietnam’s PMI in those first months of this year had continued to maintain above 50 points. Manufacturers have been believing that production would increase in the future and expect market demand to improve, new orders to increase.

In the first quarter of 2019, the General Statistics Office also investigated the business trend of enterprises in processing and manufacturing industries. The survey results showed that almost businesses assessed their production and business situation would be stable in 2019. In particular, they have been optimistic with the production and business situation in the second quarter of 2019 with 89.4% of enterprises rated the trend to be better and stable, while this number in the first quarter of 2019 only was 74.2%.

According to some experts, thanks to the advantages of impressive results achieved in 2018, the economy in the first months of 2019 continued to have positive changes and these positive signals could continue to be maintained in the next quarters of 2019.

Mr. Nguyen Bich Lam, Director of the General Statistics Office under Vietnam Ministry of Planning and Investment, warned the slow growth of some key export products; disbursement of public investment capital could be low, climate change, natural disasters, epidemics on livestock have been complicated; would be difficulties and challenges that Vietnam economy needs to overcome to achieve the target growth had been set.

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- VDSC/ Nikkei
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