Minister-Chairman of the Government’s Office Tran Van Son chairs the Government’s press briefing on July 6, 2024. (Photo: VGP/Nhat Bac)

Minister-Chairman of the Government’s Office Tran Van Son said the economy recovered to the pre-COVID-19 level in the January-June period with performance improving month over month and quarter over quarter.

GDP grew 6.93% in the second quarter and 6.42% in H1, much higher than the 3.84% recorded during the same period last year and also better than the 5.5 -6% scenario set in the Government’s Resolution.

Macroeconomic stability was ensured, inflation controlled, and major economic balances secured. The six-month consumer price index (CPI) increased 4.08%, with the core inflation up 2.75%. Energy and food security were guaranteed.

Exports surged 14.5% while imports rose 17%, resulting in a trade surplus of 11.63 billion USD. The number of international arrivals topped 8.8 million, up 58.4% year on year and 4.1% from the same period of 2019 before the pandemic broke out. 

The Asian Development Bank, Standard Chartered, and HSBC forecast Vietnam’s GDP to grow 6% in 2024, Minister Son said. The International Monetary Fund (IMF) said that Vietnam will be the only Southeast Asian representative in the top 10, with a growth rate of 6.4% forecast for 2024 - 2029.

Deputy Minister of Planning and Investment Tran Quoc Phuong said that registered Foreign Direct Investment (FDI) in the first half was estimated at 15.2 billion USD, an increase of 13% from the same period last year, and is expected to reach 40 billion USD this year.