Logo of Phnom Penh Post newspaper Phnom Penh Post - VN output soars by 11 percent

VN output soars by 11 percent

VN output soars by 11 percent

HANOI - Vietnam said on April 20 its economy was developing on positive and

stable lines, with higher industrial production, exports, imports and retail

sales.

The official Vietnam News quoted minister Le Xuan Trinh as saying

industrial output in the first quarter of this year was 11.4 percent higher than

last year.

Exports increased 18 percent and imports by 20.6 percent over

the same period, confirming a trend towards a growing trade deficit. Vietnam,

modernising its communist economy on market lines, is bringing in more goods to

repair its crumbling infrastructure.

Exports of rubber increased by 12

percent and coffee by 30 percent, the newspaper quoted Trinh as telling a news

conference in Ho Chi Minh City to which foreign journalists were not

invited.

Trinh, Director of the Government office with cabinet rank, said

retail sales were up 19 percent during the same period, "indicating that

purchasing power is increasing," Vietnam News reported.

Prices were

stabilizing after a surge during February's annual lunar New Year

holidays.

Inflation last year was 5.2 percent. Trinh said the monthly

figure for January 1994 was 1.87 percent, February 3.7 percent and March 0.4

percent.-Reuters

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement

  • Aeon, Micromax partner again for third mall

    AEON Mall (Cambodia) Co Ltd and a locally-owned Micromax Co Ltd have entered into a partnership agreement to develop fibre optic infrastructure for $200 million Aeon Mall 3, which is expected to be opened in 2023. The agreement was signed on June 20 between Masayuki Tsuboya, managing director of