Deputy PM demands appropriate moves be made to avoid economic shocks
Deputy Prime Minister Le Minh Khai requested appropriate measures be taken to guarantee macro-economic stability and control inflation to avoid economic shocks while maintaining normal production and business activities and ensuring people’s jobs and income.
Vietnam posted an economic growth rate of 6.42% in the first half of 2022. (Photo: VNA)
Hanoi (VNA) – Deputy PrimeMinister Le Minh Khai requested appropriate measures be taken to guaranteemacro-economic stability and control inflation to avoid economic shocks while maintainingnormal production and business activities and ensuring people’s jobs andincome.
Addressing a teleconferenceon July 7 to review the six-month implementation of financial - budgetary tasks, the Deputy PM highlighted the year-on-year GDP growth of 6.42% in the firsthalf of 2022, compared to 5.74% in the same period last year, with the second-quarterpace of 7.72% being the fastest since 2011.
Macro-economic stability was sustainedwhile major balances kept and inflation under control, he said, noting that theconsumer price index (CPI) rose 2.96% in Q2 and 2.44% in H1, relatively lowcompared to the same periods of pre-pandemic years.
This was the result of enormousefforts amid surging inflation in many countries, he added.
Deputy PM Le Minh Khai speaks at the teleconference on July 7. (Photo: VNA)
Thanks to achievements in thesocio-economic recovery and development process, Vietnam was one of the twoAsian-Pacific economies to have its long-term sovereign credit rating raised to“BB+” with a “stable outlook” by S&P.
Khai applauded the financialsector’s contributions to those accomplishments, saying not so many fiscalpolicies have been carried out like during the COVID-19 pandemic and H1 thisyear, helping tackle difficulties facing businesses and people and facilitatesocio-economic recovery and development.
Pointing out challenges to theeconomy, he asked the sector not to rest on its laurels but keep a close watch onthe situation and make timely response to fast changes in order to surpass developmenttargets for 2022, including an economic growth rate of 6.5%, inflation keptunder 4%, and macro-economic stability maintained./.
The Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
Vietnam’s Gross Domestic Product (GDP) in the second quarter of this year was estimated to increase 7.72% year-on-year, higher than the growth rates in the same quarters during the 2011-2021 period, the General Statistics Office (GSO) reported at a press conference on June 29.
Vietnam’s consumer price index (CPI) in the January – June period rose by 2.44% year-on-year while its core inflation edged up 1.25%, the General Statistics Office (GSO) reported at a press conference on June 29.
HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Vietnam posted an economic growth rate of 6.42% in the first half of 2022. (Photo: VNA) 
Deputy PM Le Minh Khai speaks at the teleconference on July 7. (Photo: VNA) 
