Vietnam's economy performs well in january
HANOI - The first month of this year bodes well for Vietnam's economy with exports at an impressive US$2.8 billion in January and investment flowing to the tune of $444 million.
Crude oil accounted for $640 million of exports, while garment and textiles, despite difficulties last year, grossed $370 million, a 64 per cent ($152 million) increase on the same period last year, according to the ministry of trade.
Market specialists have predicted an increase in exports of products such as electrical cables, bike spare parts and plastic products in the coming months.
Commenting on the rise in investments, Nguyen Anh Tuan, deputy head of the Foreign Investment Department, said, "Once the investment and enterprise laws come into effect on July 1, we will see a new flow of investment from traditional investors like Japan, Taiwan and the Republic of Korea."
The consumer price index (CPI) rose 1.2 per cent in January, the time of the Lunar New Year (Tet) Festival, with foodstuff increasing by 1.4 per cent and beverages 1.3 per cent
According to ministry of trade projections, retail sales of goods and services reached VND46.3 trillion (US$2.9 million), a 26.4 per cent increase on the same period last year, owing to increasing purchasing power during Tet. Market researchers have forecast the CPI to double from the January in February before declining gradually.
Vietnam News Agency - February 7, 2006.
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