Nội dung Xemina khoa học bằng tiếng Anh - Lần 2 (tháng 5/2018) Báo cáo:Cô Hoàng Thị Hải Yến

VIETNAM ECONOMY IN 2017 THROUGH THE NUMBERS

In 2017, it was marked a record of the economic growth, the attraction of more foreign investment, and the trade-turnover or tourists to Vietnam. For the first time in many years, Vietnam has reached and surpassed all 13 social-economic targets in the year. However, the overspending budget, low labor productivity, and natural disasters remain challenges to the economy.

1. 1.    The highest economic growth in 10 years

In 2017, the economic growth was 6.81%, exceeding the target 6.7% set by Vietnamese Congress, and was the highest growth rate in 10 years, according to new statistics released by the General Statistics Office. Especially, the economy in the last two quarters recorded the growth of over 7%.

The scale of the economy in 2017 at current prices was over VND 5 trillion, of which the industry, construction, and services continue to be the key roles, contributing 74% to the scale of the economy. GDP per capita in 2017 reached VND 53.5 million per year ($US 2,385), up to $US 170 compared to 2016.

The World Economic Forum ranked Vietnam's competitiveness up 5 levels to 55/137; The World Bank ranked Vietnam's business environment up 14 levels to 68/90 countries and territories.

Vietnam's sustainable development index in 2017 increased 20 levels to 68/157 countries and territories.This year, the inflation was controlled at 3.53%, lower than the ceiling of 4%.

However, the overspending budget remains a burden for the Government. Total revenue after many efforts was not enough to make up for spending when only gaining VND 1.1 million billion, equaling 91.1% of the year estimation.

According to the statistics of the General Statistics Office, the overspending budget as of 15/12/2017 was about VND 115,500 billion, up nearly VND 49,000 billion compared with the last month data.

2.Attracting foreign investment and export turnover reached record levels

The implemented capital of foreign-invested projects was estimated at $US 17.5 billion, up 10.8% over the same period in 2016, which was a record in the past 10 years. Up to five projects worth billions of dollars have been granted investment certificates this year.

Japan, Korea, Singapore continue to be the leading investors in Vietnam. Thanh Hoa, KhanhHoa, and Ho Chi Minh City are the most attractive local capitals.

In 2017, it was also marked a new record that the total flow of exports and imports exceeded $US 400 billion dollars.

Although in the early year, the United States officially withdraws from the TPP, with twelve free trade agreements signed by Vietnam and a trade agreement between Vietnam and Europe expected to take effect next year, the situation of export and import of Vietnam last year was still flourishing. The balance of trade continued to surplus.

Notably, Korea officially surpassed China to become the number 1 exporter to Vietnam in this year.

3.13 million international visitors to Vietnam

Following the success of 2016 when the tourism industry welcomed a record 10 million visitors, nearly 13 million international visitors arrived in Vietnam in 2017, up 29% over the same period last year. Annual tourism revenue is estimated at VND 35.9 trillion, up 10.4% over the same period last year.

This year, visitors from China continued to lead the number of visitors to Vietnam, accounting for about 30%, and followed by visitors from Korea with 18%.

Continuing visa exemption for citizens of five Western European countries, participating in international tourism fairs, and organizing delegations to investigate Vietnam also promote the tourism development in Vietnam.

Tourism is expected to become a key point and contributes 10% to the economy by 2020.

4. Labor productivity of Vietnamese lost to Laos, and by 7% in Singapore

Labor productivity in Vietnam at current prices reached VND 93.2 million/labor. At constant prices in 2010, the productivity of the whole economy in 2017 increased by 6% compared to 2016, and the average of the period 2011-2017 increased by 4.7% per year.

Although labor productivity has increased steadily over the years, according to the General Statistics Office, labor productivity in Vietnam is still relatively low compared to regional countries.

Particularly, the General Statistics Office also warned that the gap in the productivity between Vietnam and other countries in the region continues to increase.

7. Loss of 60,000 billion budget for natural disasters

In 2017, it was the year of rain, storms, floods, natural disasters occurring in most regions of the country. In the second half of the year, Vietnam suffered 16 storms and 7 tropical depressions in the East Sea. In particular, two typhoons numbered 10 and 12 directly entered the central provinces, were the two strongest storms in 30 years.

During the year, natural disasters caused 389 deaths, missing and 668 people injured. The total value of damage caused by natural disasters was estimated at VND 60 trillion, more than 1% of GDP, 1.5 times higher than that of 2016. Additionally, KhanhHoa suffered the most damage with VND 14.7 trillion.

In 2018, the government set a GDP growth target of 6.7%, and an average CPI growth of about 4%. And, the taxes are expected to fall below 5%, the budget revenues will be increased 4%, and the overspending budget will be controlled at 3.7%.