According to Minister of Planning and Investment Nguyen Chi Dung, the investment and business environment in Vietnam has clearly improved in recent times.

Vietnam is assessed to have the fastest improving business environment in the past 20 years. The information was given by Minister of Planning and Investment Nguyen Chi Dung at the regular Government meeting in October.

According to Minister Nguyen Chi Dung, industrial production in October continued to recover and was the driving force behind growth. The industrial production index in October increased by 7% over the same period last year. 

In addition, in the first 10 months of this year, export turnover also increased sharply with a trade surplus estimated at over 23 billion USD. The economic growth target for this year is 7% or more, of which, if the growth in the fourth quarter reaches 7.5%, the whole year will reach over 7%, which is nearly double the average of ASEAN and the world. 

According to the Minister of Planning and Investment, the economy has regained growth momentum as in the period before the COVID-19 pandemic. The macro economy is basically stable, inflation is under control, major balances are ensured, budget deficit, public debt, government debt are much lower than the allowable range, and foreign debt is decreasing rapidly.

The consumer price index (CPI) in the first 10 months increased by 3.78% compared to the same period in the context of adjusting electricity prices and tuition fees. The exchange rate was managed proactively, flexibly, promptly, and in line with world market developments.

In the context of production and business activities continuing to change positively, regaining growth momentum as in the pre-pandemic period, businesses continue to restore confidence in economic prospects.