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Cabinet discusses economic recovery, COVID-19 response

VGP - The Government convened a meeting on Thursday to review socio-economic performance in the first two months this year under the chair of Prime Minister Pham Minh Chinh.

March 03, 2022 11:04 AM GMT+7
PM chairs cabinet meeting to review socio-economic performance in Jan-Feb period - Ảnh 1.

Prime Minister Pham Minh Chinh (standing) delivers opening remarks at the Cabinet meeting, March 3, 2022 - Photo: VGP

Other discussion topics include economic recovery, COVID-19 response program for 2022-2023, pre-feasibility reports for Ring Road No. 4 in Ha Noi Capital Region and Ring Road No. 3 in Ho Chi Minh City, and preparations for the organization of the 31st SEA Games.

In his opening remarks, Prime Minister Pham said recovery is underway across fields despite complex evolution of the COVID-19 pandemic in Viet Nam and rising energy prices due to latest developments in the region and the world.

The average consumer price index (CPI) in the first two months of 2022 picked up 1.68 percent over the same period last year and core inflation increasing by 0.67 percent.

Trade with the rest of the world maintained growth momentum, increasing by 13 percent to US$108 billion, of which export turnover reached US$53.79 billion (up 10.2 percent) and import revenue stood at US$54.73 billion (up 15.9 percent).

The nation gained US$8 billion from exporting agriculture-forestry-aquatic products in the first two months of 2022, a year-on-year increase of 20.9 percent

The index of industrial production (IIP) grew by 5.4 percent year-on-year while total retail sales of goods and services rose 1.7 percent over the same period last year.

Positive signals were also recorded in business registration, with 20,300 new enterprises established and 22,300 firms resuming operation nationwide, up 11.9 percent and 102.5 percent respectively.

As of February 20, foreign investors poured nearly US$5 billion in Viet Nam, equal to 91.5 percent of the same period last year while the realized volume of foreign direct investment was estimated at US$2.68 billion, a year-on-year rise of 7.2 percent./.