Post by : Shakul

Vietnam’s economy continued to demonstrate remarkable resilience and growth during the first five months of 2026, despite ongoing global uncertainties and geopolitical tensions. Speaking at the Government’s regular monthly meeting in Hanoi on June 3, Finance Minister Ngo Van Tuan said the country’s socio-economic performance remained strong due to effective policy coordination and decisive leadership by the government.

One of the biggest drivers of growth was the industrial sector. The industrial production index increased by more than 8.7 percent in May compared to the same month last year, while growth for the first five months exceeded 9 percent. Manufacturing remained the backbone of the economy, recording an increase of nearly 9.5 percent, marking the strongest performance for the period since 2021.

Consumer demand and tourism also contributed significantly to economic expansion. Total retail sales and consumer service revenues rose by more than 11 percent in the first five months of the year, the highest level since 2024. International tourist arrivals reached nearly 11 million visitors, setting a new record and increasing by almost 15 percent compared to the previous year. Agricultural production maintained positive momentum despite concerns related to drought, extreme weather conditions and rising agricultural input costs.

Vietnam also recorded encouraging results in foreign investment and trade. Registered foreign direct investment surpassed 24 billion US dollars, representing a year-on-year increase of more than 33 percent. Implemented FDI reached 9.75 billion US dollars, while total import-export turnover climbed to 445.12 billion US dollars, the highest figure ever recorded for the period. Major investment projects from international companies continued to strengthen Vietnam’s position as a key manufacturing and investment destination in Asia.

Government revenue and public investment performance remained stable. State budget revenue reached approximately 1.34 trillion Vietnamese dong, equal to more than half of the annual target and up 15.3 percent from the same period last year. Public investment disbursement totaled 219.4 trillion dong by the end of May, exceeding the previous year’s value by nearly 35 trillion dong and supporting infrastructure development across the country.

Inflation remained under control despite global price pressures. The consumer price index increased by 0.3 percent in May compared to April, while average inflation for the first five months stood at 4.31 percent. Authorities continued to maintain stable fuel supplies and manage energy prices carefully. The government is also reviewing future adjustments to electricity, healthcare and education service fees to avoid placing additional pressure on consumers and businesses.

Looking ahead, the Vietnamese government remains committed to achieving double-digit economic growth while safeguarding macroeconomic stability. Key priorities include accelerating public investment projects, improving business conditions, attracting more foreign investment, expanding exports, supporting domestic consumption and ensuring adequate supplies of electricity and fuel. Officials believe these measures will help Vietnam maintain strong economic momentum and create a foundation for sustainable growth in the years ahead.

#Economy #Vietnam #tourism #Investments #World News