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Cabinet reviews socio-economic performance in first five months

VGP - The Cabinet convenes a meeting on Saturday to scrutinize socio-economic performance and the implementation of the socio-economic recovery program over the last five months of the year.

June 04, 2022 3:37 PM GMT+7
Cabinet reviews socio-economic performance in first five months - Ảnh 1.

Prime Minister Pham Minh Chinh (standing) presides over a Cabinet Meeting on Saturday to review socio-economic performance over the last five months of 2022 - Photo: VGP/Nhat Bac

The Cabinet members will also discuss the allocation and disbursement of public investment capital and the State budget in the reviewed period.

Addressing the event, Prime Minister Pham Minh Chinh said that positive signals have been recorded across socio-economic aspects despite global economic slowdown and global price hikes.

According to Nikkei Asia, Viet Nam logged the best performances in Nikkei's COVID-19 Recovery Index for May, jumping 48 places to 14th, noted the Prime Minister.

The country's trade with the rest of the world was estimated to reach US$305.1 billion, a year-on-year increase of 15.6 percent, according to the General Statistics Office of Viet Nam (GSO).

Of the total, Viet Nam reported US$152.81 billion in export revenue, up 16.3 percent on year, posting a trade surplus of US$516 million.

Over the period, the country gained US$23.2 billion from exporting agro-forestry-aquatic products, a year-on-year rise of 16.8 percent, reported the Ministry of Agriculture and Rural Development.

The Viet Nam Manufacturing Purchasing Managers' Index (PMI) rose to 54.7 in May from 51.7 in April, signaling a marked monthly improvement in the health of the private sector midway through the second quarter, announced the S&P Global.

As of May 20, Viet Nam attracted US$11.71 billion in foreign direct investment (FDI), equal to 83.7 percent of the same period last year, reported the Ministry of Planning and Investment.

Disbursed volume of FDI reached US$7.71 billion in five months, up 7.8 percent from the same period last year, said the ministry./.