Vietnam, South Korea to Make Impressive Raise in Two-way trade by 2030
	WB: Vietnam's Economy Growth to Reach 6.1% in 2024

The month-on-month and year-on-year growth has been seen in almost all socio-economic areas, including industry, agriculture, and service. In August, the industrial sector recorded an expansion of 2% compared to July and 9.5% over the same period last year. Particularly, the Purchasing Managers' Index (PMI) in the month reached 52.4 points, ranking second in the Southeast Asian region only after Singapore, VNA reported.

Another positive sign is that the average consumer price index in eight months rose 4.04%, with core inflation increasing 2.71%. Deputy Minister of Planning and Investment Tran Quoc Phuong held that the economy has regained the pre-pandemic growth pace, stressing the need for more effective coordination among the administration, sectors and agencies to achieve the set target of 6.8-7% and even over 7% in growth rate in 2024.

In 2024, the Vietnamese economy has recorded many important and encouraging achievements, showing signs of economic rebound. (Photo: VNA)

Regarding investment, since the beginning of this year, 2,247 new FDI projects have been licensed with a combined capital of nearly US $12 billion, up 8.5% in the project number and 27% in capital.

As of August 31, the total foreign direct investment (FDI) inflow in Vietnam had hit over 20.52 billion USD, up 7% year on year, with US $14.15 billion USD disbursed, a rise of 8% against the same period in 2023, the Foreign Investment Agency under the Ministry of Planning and Investment reported.

On September 7, at a meeting with Prime Minister Pham Minh Chinh, the Ministry of Finance was appointed to increase State budget collection and reduce expense, while efficiently implementing policies to cut taxes, fees and charges, and considering the mobilization of about 100 trillion VND (4.05 billion USD) from bond issuance for strategic infrastructure investment.

With the strong economic development seen in the first half of this year, the Vietnamese economy is likely to expand more than 6% in the whole year thanks to the recovery of exports and domestic production.

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