It will be difficult to control the inflation rate this year at under 5 percent, many experts said, pointing to the relatively high consumer price index (CPI) during the first half of 2016.
A woman selects fruit at a supermarket (Photo: VNA)
Hanoi (VNA) – It will be difficult to cꦇontrol th꧟e inflation rate this year at under 5 percent, many experts said, pointing to the relatively high consumer price index (CPI) during the first half of 2016.
CPI in June expanded by 2.35 percent from last December, and the average six-month figure rose by 1.72 percent from a year earlier.
The growth was fuelled by the scheduled increases of medical and educational services prices and minimum wage, the slight recovery of global commodity prices since February and decelerated agriculture due to unfavourable weather conditions, Le Quoc Phuong, Deputy Director of the Ministry of Industry and Trade’s Industry and Trade Information Centre, said at a seminar in Hanoi on July 7.
Global commodity prices tend to increase until the year’s end. The continued price hike of medical and educational services and a possible credit growth rate of over 20 percent in 2016 are likely to boost the year’s CPI to 5 – 5.5 percent, he forecast.
Phuong also predicted that Vietnam might fail to achieve many other economic targets such as GDP with a targeted growth rate set at 6.7 percent and exports with an expected revenue rise of 10 percent.
Economist Ngo Tri Long said with prudent control, the inflation rate in 2016 will be posted at around 4.2 percent. However, it could exceed the 5 percent target due to such factors as higher medical and educational services fees and natural disasters.
Nguyen Duc Do, Deputy Director of the Institute of Economics and Finance, said price changes in the remaining months depends on how the State adjusts medical services fees, as other factors such as oil and food prices are unlikely to surge.
In a longer period, inflation will slow down as overall economic growth may fall short of expectations, and this will be the biggest factor in curbing CPI expansion, he added.-VNA
Deputy Prime Minister Vuong Dinh Hue has affirmed the Government’s resolve to keep inflation at between 4-5 percent for the whole year following consecutive CPI increases from January to May.
The consumer price index (CPI) in Hanoi continued to go up in June, the sixth consecutive month of growth, the municipal Statistics Office (GSO) reported on May 22.
Vietnam’s consumer price index (CPI) in the first half of the year saw a slight rise at an average of 0.39 percent each month, reported the General Statistics Office (GSO) on June 24.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
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.
A woman selects fruit at a supermarket (Photo: VNA)
