Deputy Prime Minister Vuong Dinh Hue addresses the year-end session of the National Council for Financial and Monetary Policy Consultation. (Photo: VNA)

The Council announced at its year-end session in Hanoi on Tuesday that Vietnam surpassed a number of socio-economic targets: 410 billion USD of import-export revenue, 3 billion USD of export surplus, 120,000 new enterprises, 13 million foreign arrivals, and a 14-slot jump in business climate ranking. Growth was recorded in all economic sectors, particularly in manufacturing, processing, services, and tourism.

Deputy Prime Minister Vuong Dinh Hue, who is also the Council’s Chairman, said: “The Council members should examine both Vietnam’s achievements and failures in 2017 and make predictions for next year’s economy. The Council should advise the Government on macro-economic management and fiscal and monetary policies. They are the basis for finalizing the Government’s Resolution No.1 to be approved by the Prime Minister in 2018.”

The Council predicts that Vietnam will enjoy favorable economic conditions both domestically and globally in 2018.  It also advises that the Government carefully weigh changes in the financial and securities market before setting its macro policies.