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

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • PM warns EU and opposition on 34th anniversary of his rule

    HUN Sen reached the milestone of 34 years as Cambodian prime minister on Monday and used the groundbreaking ceremony for a new ring road around Phnom Penh to tell the international community that putting sanctions on the Kingdom meant killing the opposition. “Please don’t forget