June-on-June growth clear evidence of economic recovery.
The Ministry of Planning and Investment has announced that Vietnam’s GDP in the first six months rose 6.11 per cent, the highest year-on-year increase since 2010.
The industry and construction sector rose 8.36 per cent over the same period last year and services by 6.16 per cent, while agriculture, forestry and fisheries grew just 2.16 per cent.
GDP growth in the first six months almost reached the target of 6.2 per cent set by the government set for the year as a whole. The result comes amid rising domestic consumption, with total retail sales of consumer goods and services increasing 9.76 per cent, exceeding the 5.7 per cent recorded in the same period last year.
In the first half the operational situation of businesses also recovered. There were over 14,400 newly-registered enterprises with total investment capital of nearly VND282.4 trillion ($12.9 billion), an increase of 20 per cent year-on-year.
The number of dissolved enterprises fell 0.9 per cent, while the number of enterprises temporarily ceasing operations fell nearly 6 per cent.
Meanwhile, the CPI rose 0.35 per cent in June against May and 1 per cent against June last year, primarily due to higher petrol prices.