PM Nguyen Xuan Phuc reiterates the Government's resolve to rein in inflation.

He noted that although this month’s consumer price index (CPI) fell slightly, more should be done to control a possible inflation hike as a result of higher interest rates in the world market, exchange rates and prices of essential goods, amid a trade war between China and the US.

Cabinet members said that the CPI dropped nearly 0.1 percent in July after surging in the two previous months, and industrial production expanded more than 14 percent. Significant progress was made in retail, tourism, foreign direct investment, and export. Vietnam earned 134 billion USD from export in the past 7 months, resulting in a trade surplus of more than 3 billion USD. Nearly 80,000 new businesses have been set up so far this year.

Prime Minister Phuc noted that the Asian Development Bank forecasts Vietnam’s GDP growth rate at 7.1 percent this year, while Standard Chartered predicted this figure at 7 percent and inflation at around 4 percent.