Industry growth predicted to hit over 6.8 percent in Q1
Industry is forecast to lead all sectors in terms of growth at 6.87 percent each in the first quarter of 2018, according to the National Centre for Socio-Economic Information and Forecast (NCIF).
Automobile assembling at Toyota Phu Yen (Source: VNA)
Hanoi (VNA) – Industry is forecast to lead all sectors interms of growth at 6.87 percent each in the first quarter of 2018, according tothe National Centre for Socio-Economic Information and Forecast (NCIF).
Dr. Dang Duc Anh, head of the centre’s Department of Analysis andForecast, said the surge of 17 percent of the manufacturing and processing industryin the first two months of this year would drive the whole industry sector.
According to the centre, which is run by the Ministry of Planning andInvestment, economic growth of the country in the first quarter may reach 6.23percent, up from 5.15 percent in the same period last year.
The NCIF predicted the service sector will expand 6.74 percent in thefirst quarter, while inflation many reach 3.1 percent, higher than in the sameperiod last year.
Continuing from 2017, progress has been seen in all economic indicationsin the first quarter of 2018 thanks to busy manufacturing, construction, trade,wholesale and retail, banking and tourism sectors.
GDP growth in 2018 is now predicted to hit 6.83 percent, higher than thecentre’s forecast in December last year.
The Government’s efforts in removing difficulties facing businesses areexpected to help boost the industry and construction sectors.
Meanwhile, agro-forestry-fishery is forecast to continue expanding as measuresto develop sustainable agriculture are becoming effective.
At the same time, economic experts said the three main factors boostingeconomic growth this year include drastic actions of the Government inimproving the business environment, and stability in macro-economic policies.
Additionally, major projects in the processing and manufacturing sectorand the newly-signed Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP) are predicted to lift investment and trade, they added.-VNA
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Automobile assembling at Toyota Phu Yen (Source: VNA) 
