Earlier this year, the Government set a growth target of 5.8% for the whole of 2014 but a report by the World Bank released in July predicted that the Vietnamese economy would grow at a moderate pace of 5.4%.
The MPI’s Department for National Economic Issues Director General Bui Ha said that economic growth in the first three quarters of 2014 was faster than that in the same period last year, which an increase of 5.14%.
During the period, foreign direct investment pledges decreased sharply by 25.5% year on year to US$11.18 billion but disbursement increased slightly, by 3.2% to US$8.9 billion.
Detailed figures showed industrial production and service rose by 6.12% and 6.02% respectively while farming output was up by 3.17%.
Ha said the manufacturing sector posted an increase of 8.3% year on year with strong growth in major industries such as textile, leather, electronic devices and computers.
Export revenue during January-September reached US$109.6 billion, outstripping imports by nearly US$2.47 billion.
In September, Vietnam’s inflation eased to 3.62% from the 4.31% rate in August, although consumer prices rose sharply over the previous month.
During the period, foreign direct investment pledges decreased sharply by 25.5% year on year to US$11.18 billion but disbursement increased slightly, by 3.2% to US$8.9 billion.
Detailed figures showed industrial production and service rose by 6.12% and 6.02% respectively while farming output was up by 3.17%.
Ha said the manufacturing sector posted an increase of 8.3% year on year with strong growth in major industries such as textile, leather, electronic devices and computers.
Export revenue during January-September reached US$109.6 billion, outstripping imports by nearly US$2.47 billion.
In September, Vietnam’s inflation eased to 3.62% from the 4.31% rate in August, although consumer prices rose sharply over the previous month.
