Vietnam’s per capita income reaches almost $2,000

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Vietnam tradersVietnam’s annual per capita income is estimated to have reached $1,960, Prime Minister Nguyen Tan Dung said at the opening ceremony of the Vietnam Development Partnership Forum in Hanoi on December 5.

According to the prime minister, the Vietnamese GDP will reach nearly $176 billion and the national foreign currency reserves will be equal to 12 weeks of imports.

Dung said that the Vietnamese economy has “overcome a great number of difficulties” and is heading towards a gradual recovery and a higher growth rate. In 2013, Vietnam’s GDP growth is expected to reach 5.4 per cent, and is forecast to climb by 5.8 per cent in 2014 and 6 per cent in 2015.

He also noted that inflation in expected to be around 6 per cent in 2013, which would be a record low over the past decade, from 18.13 per cent in 2011.

In the past three years, Vietnam has seen a high export values, which are expected to be $121 billion in the first 11 months, up by 16.2 per cent compared to the same period of last year. Meanwhile, the trade deficit is forecast to sharply decrease to $500 million this year. Dung also said that both deposit and lending interest rates have fallen sharply, creating favourable conditions for enterprises to get loans.

This year’s trade deficit has been raised to 5.3 per cent of GDP in order to prioritise development in investment and debt payment, but the rate will be gradually be cut, starting in 2015. The Vietnamese government will tighten control over public, governmental and foreign debts so as to ensure they are at safe levels, the prime minister said.

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Reading Time: 2 minutes

Vietnam’s annual per capita income is estimated to have reached $1,960, Prime Minister Nguyen Tan Dung said at the opening ceremony of the Vietnam Development Partnership Forum in Hanoi on December 5.

Reading Time: 2 minutes

Vietnam tradersVietnam’s annual per capita income is estimated to have reached $1,960, Prime Minister Nguyen Tan Dung said at the opening ceremony of the Vietnam Development Partnership Forum in Hanoi on December 5.

According to the prime minister, the Vietnamese GDP will reach nearly $176 billion and the national foreign currency reserves will be equal to 12 weeks of imports.

Dung said that the Vietnamese economy has “overcome a great number of difficulties” and is heading towards a gradual recovery and a higher growth rate. In 2013, Vietnam’s GDP growth is expected to reach 5.4 per cent, and is forecast to climb by 5.8 per cent in 2014 and 6 per cent in 2015.

He also noted that inflation in expected to be around 6 per cent in 2013, which would be a record low over the past decade, from 18.13 per cent in 2011.

In the past three years, Vietnam has seen a high export values, which are expected to be $121 billion in the first 11 months, up by 16.2 per cent compared to the same period of last year. Meanwhile, the trade deficit is forecast to sharply decrease to $500 million this year. Dung also said that both deposit and lending interest rates have fallen sharply, creating favourable conditions for enterprises to get loans.

This year’s trade deficit has been raised to 5.3 per cent of GDP in order to prioritise development in investment and debt payment, but the rate will be gradually be cut, starting in 2015. The Vietnamese government will tighten control over public, governmental and foreign debts so as to ensure they are at safe levels, the prime minister said.

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