REPORT SOCIAL AND ECONOMIC SITUATIONS IN THE 9 MONTHS OF 2015

Vietnamese socio-economy in the 9 months of 2015 took place in the context of strong fluctuations in the global market: The international commodity market, especially crude oil, dropped continuously and decreased sharply in the past months, mainly due to abundant supply, which positively impacting the growth of oil importing countries but negatively affecting the growth of oil-exporting countries owing to reduced export revenue. Besides, the biggest concern in at this time was the instability of the global financial market with the depreciation of the Chinese yuan – the second largest economy in the world, making most Asian countries to face pressure on currency devaluation in order to ensure competitiveness in export markets. In addition, the money and stock markets in emerging economies were under pressure due to a significant reduction in investment capital flows.

In the domestic market, the sharp drop in world oil prices caused domestic oil prices to fall, directly affecting the economy and the State budget. However, considering the positive aspect, the decline in oil price was an opportunity for domestic production and business activities to reduce input costs, lower production costs and promote social consumption. Export and import of Vietnamese goods were directly influenced by the devaluation of the yuan and the currencies of many other countries in the world.

Facing complicated conditions of the global economy, the Government drastically directed ministries, agencies and localities to synchronously implement solutions and policies, especially fiscal and monetary policies to ensure macroeconomic stability, promote production and business, and maintain reasonable growth. Results of implementation of socio-economic indicators in the 9 months of 2015 were as follows:

I. ECONOMIC GROWTH

1. Growth rate of gross domestic product

The gross domestic product (GDP) in the 9 months of 2015 was estimated to increase by 6.50% over the same period in 2014, of which the growth in the first, second and third quarter was 6.12%, 6.47%, 6.81%, respectively. In the increase of 6.50% of the whole economy, the agriculture, forestry and fishery sector increased by 2.08%, contributing 0.36 percentage points; the industry and construction sector increased by 9.57%, contributing 3.12 percentage points; the service sector increased by 6.17%, contributing 2.38 percentage points.

In the agricultural, forestry and fishery sector, the forestry activities achieved the highest increase of 7.89% compared to the same period in 2014, contributing 0.06 percentage points to the overall increase due to higher timber production at 11.8%; the fishery activities increased by 2.11%, contributing 0.07 percentage points. Particularly, the agricultural activities only increased by 1.77%, contributing 0.23 percentage points, mainly due to the unfavorable weather conditions, unstable and upturn trend in prices of some materials for agricultural production, resulting in low paddy production (estimated rice production in 2015 was 45.1 million tons, only 0.3% higher than 2014).

In the industry and construction sector, the industry activities rose by 9.69% over the same period last year, much higher than the same period of some recent years[1], of which the manufacturing significantly increased at 10.15%[2], making an important contribution to the overall growth rate (contribution of 1.58 percentage points); the mining and quarrying increased by 8.15%. The 9-month increase of the construction activities reached 9.00%, the highest increase in the last 5 years[3].

In the service sector, some service and business activities experienced high growth rate over the same period last year: the wholesale and retail trade, and the repair of consumer goods (8.4%); the accommodation and catering services (3.83%); the financial, banking and insurance activities (6.7%) (As of 21^st September, 2015, credit growth increased by 10.78% compared to the end of 2014); the real estate activities showed improvement, reaching 2.9% (higher than the increase of 2.71% in the same period last year). The non-business service activities experienced a lower increase than that in the same period of 2014 because of stabilizing the payroll, saving regular expenditures, quite stable prices of health and education services on a large scale, etc.

 

GDP growth rate in the third quarter of years

2013, 2014 and 2015

 

 

	Year-on-year growth rate (%)			Contribution of the economic sectors to the growth in the 3rd quarter of 2015 (Percentage point)
	QIII 2013	QIII 2014	QIII 2015
Total	5.14	5.53	6.50	6.50
Agriculture, forestry and fishery	2.38	2.94	2.08	0.36
Industry and construction	4.88	5.75	9.57	3.12
Services	6.43	5.94	6.17	2.38
Product taxes less subsidies on production	5.93	7.55	5.50	0.64

Regarding economic structure in the first 9 months of this year, the agriculture, forestry and fishery sector accounted for 16.30%; the industry and construction sector accounted for 33.09%; the service sector accounted for 40.52%; the product taxes less subsidies on production accounted for 10.09%.

From the expenditure approach of the 9-month GDP, the final consumption increased by 9.07% over the same period in 2014, contributing 7.31 percentage points to the overall increase; the gross capital formation increased by 8.08%, contributed 2.62 percentage points; the balance of exports and imports of goods and services was in the trade deficit, reducing 3.43 percentage points of the overall growth rate.

2. Agriculture, forestry and fishery

Gross outputs of agriculture, forestry and fishery production in the first 9 months of 2015 at 2010 constant prices was estimated at 590.6 trillion VND, rising 2.1% of over the same period last year, included: Agriculture reached 432, 4 trillion VND, rising by 1.8%; forestry reached 20.4 trillion VND, rising by 7.8%; fishery production reached 137.8 trillion VND, rising by 2.2%.

Agriculture

As of middle of September, the country cultivated 1721.2 thousand hectares of winter paddy, an equal to 96.7% of over the same period last year, of which localities in the North cultivated 1166.2 thousand hectares, equaling 98.7%; southern localities cultivated 555 thousand hectares, equaling 92.7%. area of cultivation of paddy in most localities decreased due to the weather’s effects, besides some localities converted a part of the paddy area to other annual crops to increase the economic efficiency, of which: Ben Tre decreased by 18, 4 thousand hectares; Long An by 3.7 thousand hectares, Son La by 2.7 thousand hectares; Thanh Hoa by 2.2 thousand hectares; Soc Trang by 2 thousand hectares; Hanoi by 1.8 thousand hectares; Ninh Thuan by 1.7 thousand hectares. Currently, early paddies in Northern provinces was in the stage of maturing and ripening, yield was estimated at over 50 quintals / hectare, saw an increase compared with that of over the same period last year; production was estimated at 5.8 million tons, a drop of 1% (due to a drop of  ​​1.3% in area). If the weather recorded favorable in the last months of the year and not affected by pests and diseases, the yield of the winter paddy in the year was estimated at 49.3 quintals / hectare, an increase of 0.3-0.5 quintal / hectare. ; Production of winter paddy reached 9.6 million tons, a decrease of 71.2 thousand tons compared with that of against the crop in 2014.

Along with cultivating paddy, localities in the country conducted harvesting of summer-autumn paddy. As of September 15, 2015, southern provinces harvested 1736.1 thousand hectares of summer-autumn paddy, an  equal to 96.5% of over the same period last year, accounted for 82.6% of the cultivated area, of which Mekong River Delta harvested 1519.5 thousand hectares, an equal to 97.9% and  made up 90.5%. Area of ​​summer-autumn paddy in the country this year was estimated at 2.1 million hectares, a drop of 7.5 thousand hectares compared with that of against the summer-autumn crop in 2014 due to the beginning of the dry hot sunny that caused a shortage of irrigation water, in which Mekong River Delta reached 1677.8 thousand hectares, an increase of 9.5 thousand hectares (An Giang increased by 4.1 thousand hectares; Kien Giang increased by 10.6 thousand hectares; Soc Trang increased by 4.9 thousand hectares). Yield of summer-autumn paddy was estimated at 54 quintals / hectare, rising by 0.8 quintals / hectare; production reached 11.3 million tons, an increase of 122 thousand tons, of which the Mekong River Delta reached about 9.1 million tons, an increase of 183 thousand tons.

As of mid-September, provinces in Mekong River Delta cultivated 607.5 thousand hectares of autumn-winter paddy, an equal to 103.9% of over the same period last year. Up to now, area of ​​autumn-winter paddy harvested recorded about 120 thousand hectares. Estimated cultivated area of ​​autumn-winter paddy in 2015 reached 671.1 thousand hectares; yield was equivalent to that of against the previous year; production reached nearly 3.5 million tons, an increase of about 248 thousand tons.

Estimated paddy production in 2015 was 45.1 million tons, rising by 140 thousand tons compared with that of against 2014, of which winter-spring paddy reached 20.7 million tons, a drop of 158.8 thousand tons; autumn-winter and summer-autumn paddy reached 14.8 million tons, rising by 370 thousand tons; winter paddy reached 9.6 million tons, a drop of 71.2 thousand tons.

Generally, cultivation of some crops was recorded low. As of middle of September, the country cultivated 1057.1 thousand hectares of maize, an equal to 99.2% of over the same period last year; sweet potatoes reached 123.1 thousand hectares, an equal to 95.3%; groundnut reached 193.8 thousand hectares, an equal to 95.8%; soybean reached 98.9 thousand hectares, an equal to 91.3% and vegetables and beans reached 926.3 thousand hectares, an equal to 102.8%.

Perennial industrial crops was recorded good yields due to an increase in area of annuals crops: Rubber production in 9 months was estimated at 730 thousand tons, rising by 3.8% of over the same period last year; tea reached 828 thousand tons, rising by 2.5%; pepper reached 169.6 thousand tons, rising by 10%; cashew reached 345 thousand tons, an equal to 100%. Yield of some fruits decreased due to the effects of hot sunny, unseasonal rain and frost, of which banana production decreased by 1.7% compared with that of over the same period last year; long an decreased by 1.3%; Orange decreased by 8%. Particularly, pommel production increased by 0.6%; grapes increased by 30%.

Buffalo and cattle husbandry generally witnessed stability, no major epidemics was recorded. As of the middle of September, buffalo population decreased by 1% compared with that of over the same period in 2014; cattle increased by 2% -2.5%. Production of buffalo living weight in 9 months decreased by 1.9% compared with that of over the same period last year; production of cattle living weight increased by 2.4%. Pig farming developed towards the direction of commodity production with a large-scale, high-efficiency and current model of animal husbandry due to the stable consumption market. Pig population in the nationwide increased by 2.5% -3% compared with that of over the same period last year; production of pig living weight in 9 months increased by 3.7%. Poultry farming developed on a large scale farms and household farms. Total poultry population in September increased by 3% -3.5% of over the same period last year; Production of poultry living weight in 9 months increased by 5.3%.

As of September 22, 2015, blue ear disease on pigs was controlled in the nationwide. Epidemics such as Avian influenza was not over 21 days in localities such as; Vinh Long and Ha Tinh provinces; Foot and mouth disease in Nghe An, Binh Duong, Dak Lak and Soc Trang.

Forestry

The area of ​​newly planted forests in the country was estimated at 172 thousand hectares in the first 9 months, rising by 4.2% of over the same period last year; number of scattered trees reached 141 million, an increase of 0.6%. Volume of wood production reached 5834 thousand m3, a sharp increase of 11.8% compared with that of over the same period last year due to stable domestic and export consumption markets, of which some provinces recorded an increase of wood production. Binh Dinh reached 552 thousand m3, increased by 31.7%; Quang Ngai reached 515 thousand m3, rising by 28%; Quang Tri reached 355 thousand m3, rising by 25%; Tuyen Quang reached 310 thousand m3, rising by 80%; Thanh Hoa reached 304 thousand m3, rising by 45.2%.

Forest protection and forest fire prevention measures was taken by relevant agencies and local authorities at all levels, but due to long lasting drought weather in the early months of the year, forest fires still occurred in some localities. In 9 months, there were 1712 hectares of forest damaged, a decrease of 53.9% compared with that of over the same period last year, of which forest fired area was 1055 hectares, a drop of 65.5%; area of ​​deforested was 657 hectares, an increase of 0.9%. Some provinces recorded much forest fired area: of which Dak Lak reached 275 hectares; Thanh Hoa reached 169 hectares; Ha Giang reached 156 hectares; Yen Bai reached 142 hectares. Some provinces recorded much deforested areas: Dak Nong reached 256 hectares; Dien Bien reached 164 hectares; Lam Dong reached 131 hectares.

Fishery

Fishery production in 9 months was estimated at 4846.6 thousand tons, rising by 2.8% of over the same period last year, of which fish reached 3535.9 thousand tons, rising by 3.2%; shrimp reached 570.5 thousand tons, a drop of 1.1%.

Area of ​​aquaculture in 9 months was estimated at 1014.3 thousand hectares, a drop of 0.4% of over the same period last year (the Mekong River Delta reached 732 thousand hectares, a drop of 0.3%), mainly due to long lasting hot weather, complicated epidemics and a sharp decrease of export market; purchasing price remained low while the cost of seedlings, aquatics food, and veterinary medicine went up. Aquaculture production in 9 months was estimated at 2584.2 thousand tons, rising 1.6% of over the same period last year, of which fish reached 1877.3 thousand tons, rising by 2.3%; shrimp reached 450.6 thousand tons, a drop of 2.3%.

Pegasus farming saw a tendency to change from small farming to a farming model focusing on the value chain, focusing on process to apply Viet Gap standard. However, pangasius farmers faced difficulties due to the low price of Pegasus; pangasius export was subjected to high tax rates. Particularly, number of large-scale and joint-venture enterprises recorded a stable increase, thanks to the initiatives in the breeds and consumption market of products. Pegasus farming area in 9 months was estimated at 11.2 thousand hectares, a drop of 2.9% of over the same period last year, of which Dong Thap reached 1.6 thousand hectares, a drop of 0.3%; An Giang reached 1.1 thousand hectares, rising by 1.9%; Ben Tre reached 0.6 thousand hectares, a drop of 5.3%; Can Tho reached 0.7 thousand hectares, a drop of 4.9%; Vinh Long reached 0.4 thousand hectares, a drop of 8.2%. Pegasus production was estimated at 889 thousand tons, rising by 1.5% of over the same period in 2014, of which Dong Thap reached 286.4 thousand tons, rising by 0.7%; An Giang reached 224.6 thousand tons, rising by 3.9%; Ben Tre reached 131.5 thousand tons, rising by 1.8%; Can Tho reached 105.8 thousand tons, a drop of 3.5%; Vinh Long reached 56.2 thousand tons, a decrease of 3.7%.

Shrimp farming also faced many difficulties due to a decrease in shrimp prices and affected by long lasting hot weather, big different in temperature between day and night that caused outbreaks of diseases and damage to producers. White leg shrimp farming no longer recorded effective as in previous years due to poor disease resistance, and high competition in market so some of producers change a part of white leg shrimp farming to black tiger shrimp farming. Area of ​​white leg shrimp farming in 9 months was estimated at 76.3 thousand hectares, a drop of 9.3% compared with that of over the same period last year, of which the North and South Central Coastal area reached 13.6 thousand hectares, a drop of 9%; Mekong River Delta reached 56.3 thousand hectares, a drop of 11%. Production of white leg shrimp was estimated at 228 thousand tons, a decrease of 4%, of which Mekong River Delta reached 146.4 thousand tons, a drop of 9.8% (Soc Trang reached 28.5 thousand tons, a drop of 33, 9%, Ben Tre reached 28.1 thousand tons, a decrease of 17.6%, Tra Vinh reached 14.1 thousand tons, a drop of 19.2%, Bac Lieu reached 14.9 thousand tons, a decrease of 3.3%); North and South Central Coast areas reached 57.3 thousand tons, a drop of 3.7%.

Area of ​​tiger shrimp farming in the first 9 months of this year was estimated at 577.3 thousand hectares, rising by 4.4% of over the same period last year, of which the Red River Delta reached 11.5 thousand hectares, a drop of 1.9%; North and South Central Coast area reached 9.2 thousand hectares, rising by 2%; Mekong River Delta region reached 551.5 thousand hectares, an increase of 4.1%. Production of black tiger shrimp was estimated at 189 thousand tons, a drop of 1.6%, of which the Mekong River Delta reached 172.4 thousand tons, a drop of 4.8%; North and South Central Coast area reached 4.7 thousand tons, a decrease of 6.6%.

Fishery catching in Localities witnessed advantageous weather. Number of boats converted was recorded an increase in production that encouraged fishermen actively to conduct marine catching. Fishery production in 9 months was estimated at 2262.4 thousand tons, rising by 4.3% of over the same period last year, of which fish reached 1658.6 thousand tons,  rising by 4.2%; shrimp reached 119.9 thousand tons, rising by 3.6%; other fisheries  reached 483.9 thousand tons, rising 4.6%. Tuna fishing recorded good, of which: Binh Dinh reached 7.6 thousand tons, rising by 4.9%; Phu Yen reached 3.8 thousand tons, rising by 13.6%; Khanh Hoa reached 3 thousand tons, rising by 7%.

3. Industrial production

The index of industrial production (IIP) of the industrial activities in September was estimated to increase by 10.1% over the same period last year, of which the IIP of the mining and quarrying, the manufacturing, the production and distribution of electricity, the water supply, sewerage, waste management and remediation activities increased by 8.3%, 10.3%, 13.5%, 8.8%, respectively. Generally for the 9 months, the IIP increased by 9.8% over the same period last year, much higher than the increase of 6.7% in the same period last year[4]. In the industrial activities, the IIP of the mining and quarrying, the manufacturing, the production and distribution of electricity, the water supply, sewerage, waste management and remediation activities increased by 8, 2%, 10.2%, 11.4%, 7.3%, which contributing 1.8 percentage points, 7.1 percentage points, 0.8 percentage points, 0.1 percentage points[5] to the overall increase, respectively. Relating usage of industrial products, the IIP of intermediary products (for the following production process) increased by 9.7%; the IIP of products for final consumption increased by 9.9%, of which products used as means of productions rose 12.9%; consumer goods for residents increased by 8.5%.

In 2-digit industrial activities, the 9-month IIP of some activities increased significantly over the same period last year: the manufacture of electronic, computer and optical products (44.1%); the manufacture of motor vehicles (27.4%); the manufacture of leather and related products (19.2%); the manufacture of textile (17.5%). Some activities experienced a moderate increase in the IIP: the manufacture of rubber and plastic products (12.8%); the manufacture of other non-metallic mineral products (12.4%); the manufacture of furniture (11.9%); the production and distribution of electricity (11.4%); the manufacture of basic metals (11.2%). A number of activities showed a slight increase in the IIP: the extraction of crude oil and natural gas (8.8%); the manufacture of food products (7.9%); the manufacture of chemicals and chemical products (6.7%); the manufacture of beverages (6.2%); the extraction of hard coal and lignite (5.1%); the manufacture of paper and paper products (4.9%); the manufacture of wearing apparel (4.7%); the manufacture of pharmaceuticals, medicinal chemical and botanical products (4.3%); the manufacture of tobacco products (3.5%).

In the 9 months of this year, some industrial products enjoyed an enormous increase in the IIP over the same period last year: mobile phones (0.5%); television (45.5%); leather shoes and sandals (24.1%); rolled steel (20.1%); aquatic food (15.2%); powder milk (15.1%); fresh milk (14.9%). The IIP of several products increased quite well: electricity (12.3%); chemical paint (11%); cement (10.7%); crude oil (10.7%). Some products witnessed a slight increase in the IIP: running water (6.2%); beer (5.9%); processed seafood (5.3%); coal (5.1%[6]); casual clothes (3.9%); cigarettes (3.4%). Otherwise, the IIP of crude steel and motorbikes fell 0.2%, 11.3%, respectively.

Some industrial large shared provinces showed an increase in the 9-month IIP compared to the same period last year, including Thai Nguyen (243.7%); Quang Nam (32.8%); Hai Phong (15.2%); Da Nang (13.4%); Hai Duong (10.1%); Binh Duong (9%); Dong Nai (8.2%); Ha Noi (7.7%); Ho Chi Minh City (7.1%); Can Tho (7%); Quang Ninh (6.4%); Ba Ria – Vung Tau (4.7%); Vinh Phuc (3.3%).

The index of industrial shipment (IIS) of the manufacturing activities in August 2015 increased by 1% over the previous month and by 13.3% over the same period last year. Generally for 8 months, the IIS increased by 13.2% compared to the same period in 2014, of which some activities reached a considerable increase in the IIS: the manufacture of electronic, computers and optical products (85.7%); the manufacture of motor vehicles (27.5%); the manufacture of basic metals (23.7%). The IIS of some activities moderately and slightly increased: the manufacture of pharmaceuticals, medicinal chemical and botanical products (10.7%); the manufacture of electric equipment (8.8%); the manufacture of food products (8.3%); the manufacture of wearing apparel (5.4%); the manufacture of beverages (5%); the manufacture of textile (3.8%). Only the manufacture of tobacco products showed a decrease of 0.5% in the IIS.

The index of industrial inventory of the manufacturing as of 1^st September, 2015 increased by 9.9% compared to the same period last year, of which some industrial activities showed a slight increase compared to the average increase of the index of industrial inventory: the manufacture of tobacco products (5.1%); the manufacture of wearing apparel (3.5%); the manufacture of pharmaceuticals, medicinal chemical and botanical products (2.3%); the manufacture of rubber and plastic products (0.3%). The index of industrial inventory of the manufacture of chemicals and chemical products, the manufacture of electrical equipment decreased by 2.4%, 8.1%, respectively. Various activities saw a significant increase in the index of industrial inventory over the average index: the manufacture of electronic, computers and optical products (118.4%); the manufacture of beverages (90.2%); the manufacture of leather and related products (67.8%); the manufacture of food products (22.8%); the manufacture of motor vehicles (21.7%).

The average index of industrial inventory of the manufacturing in the 8 months of 2015 was 74%, of which, some activities showed a massive rise in the index of industrial inventory: the manufacture of pharmaceuticals, medicinal chemical and botanical products (144.3%), the manufacture of chemicals and chemical products (114.3%); the manufacture of food products (100.6%).

The number of employees working in industrial enterprises as of 1^st September, 2015 increased by 7.1% over the same period last year, of which the number of employees in state-owned enterprises, non-state enterprises, and FDI enterprises increased by 0.2%, 4.9%, 10.6%, respectively. At the same time, the number of employees working in the mining and quarrying decreased by 1.8% compared to the same period last year; the number of employees working in the manufacturing, the production and distribution of electricity, the water supply, sewerage, waste management and remediation activities increased by 8%, 0.8%, 4.4%, respectively.

Some localities with large share of the industry sector witnessed an increase in the number of employees working in industrial enterprises as of 1^st September, 2015 compared to the same period last year: Thai Nguyen (71.9%); Ba Ria – Vung Tau (17.7%); Vinh Phuc (17.1%); Quang Nam (12.9%); Hai Duong (11.5%); Binh Duong (6.6%); Dong Nai (5.5%); Da Nang (4.6%); Ho Chi Minh City (1.3%); Quang Ninh (0.6%); Can Tho (0.6%). Otherwise, the number of employees working in industrial enterprises in Ha Noi decreased by 0.6%.

4. Enterprises operation situation

Enterprises registration status[7]

In September (from 20^th August to 20^th September, 2015), there were 7042 newly established enterprises in the whole country with a registered capital of 44.5 trillion VND, the average registered capital of an enterprise gained 6.3. billions VND. Compared to the previous month, the number of newly established enterprises decreased by 24.3%; the registered capital decreased by 19.3%; the average registered capital of an enterprise increased by 6.6%. The number of newly established enterprises increased by 22.6% compared to the same period last year, the registered capital increased by 45.9%. The total number of registered employees of newly established enterprises in September was 125.9 thousand persons, reduced 3.0% compared to the previous month.

In the month, there were 1515 re-operated enterprises, increasing by 11.5% over the previous month; there were 9439 temporarily ceased enterprises, increasing by 24.3%[8], including 1443 enterprises ceased for a certain period of time and 7996 enterprises temporarily ceased and waited to terminate their business codes or unregistered; 672 enterprises completed dissolution procedures, went down 19.4%.

Generally for 9 months of this year, there were 68347 newly registered enterprises with a total registered capital of 420.9 trillion VND, an increase of 28.5% in number of enterprises and 31.4% in registered capital compared to the same period last year. The average registered capital of a newly established enterprise reached 6.2 billion VND, rose up 2.3% compared to the same period in 2014. Besides, there were 608.9 trillion VND of additional registered capital of enterprise that recorded upward adjustment of capital in the last 9 months. Thus, the total newly registered and additionally registered capital in the economy in 9 months of 2015 was 1029.9 trillion VND. The number of employees expected to create jobs for newly established enterprises in 9 months was 999.3 thousand persons, going up by 25.7% over the same period in 2014.

The number of re-operated enterprises in 9 months was 12848 enterprises, increasing by 8.2% compared to the same period in 2014. In general, the situation of enterprises entered the market in the first 9 months of this year was improved in comparison with the same period last year, the efforts of the enterprise community and the effectiveness of the Government’s solutions in improving the business investment environment and solving difficulties for enterprise.

The number of enterprises completed dissolution procedures, terminated business production activities in 9 months was 6962 enterprises, a downturn of 0.9% compared to the same period in 2014, of which almost enterprises with  the registered capital size of less than 10 billion VND (accounting for 93.5%). By kinds of enterprise, the total number of enterprises completed dissolution procedures, terminated business production activities, there were 2519 one-member limited liability companies (forming 36.2%); 1897 two-member limited liability companies (accounting for 27.2%); 1510 private enterprises (making up 21.7%) and 1036 joint stock companies (sharing 14.9%).

The number of temporarily ceased enterprises in 9 months was 47604 enterprises, an upturn of 15.3% compared to the same period last year, including 12437 enterprises ceased for a certain period of time and 35167 enterprises temporarily ceased and waited to terminate their business codes or unregistered. Of the total number of temporarily ceased enterprises, there were 17183 one-member limited liability companies (accounting for 36.1%); 15398 two-member limited liability companies (constituted 32.3%); 9284 joint stock companies (accounting for 19.5%); 5738 private enterprises (forming for 12.1%) and 1 partnership company.

Business trend of enterprises

The results of the production business situation survey of enterprises in the third quarter compared to the previous quarter, there were 36.6% of enterprises assessed that the business production situation was better; 19.9% ​​of enterprises faced difficulties and 43.5% of enterprises said that the business production situation was stable. It is expected that in the fourth quarter compared to the third quarter, 46.8% of enterprises presented that the trend would be better; 14.4% of enterprises forecasted the business production situation was worse and 38.8% of enterprises said that the business production situation would be stable.

Regarding production volume, 40% of enterprises pointed out production volume of enterprises in the third quarter of this year increased compared to the previous quarter; 20.7% of enterprises reported that the production volume decreased and 39.3% of enterprises considered stable. The trend in the fourth quarter compared to the third quarter, 49.2% of enterprises forecasted an increase in production volume; 13.8% of enterprises forecasted a decrease and 37.0% of enterprises predicted stability.

Regarding orders for goods, 34.2% of enterprises had more orders in third quarter compared to the second quarter; 19.8% of enterprises had fewer orders and 46.0% of enterprises recorded stable orders. The trend of the fourth quarter was better with 43.6% of enterprises expected an increase in orders compared to the third quarter; 12.7% of enterprises expected a decrease in orders and 43.7% of enterprises expected to have stable orders.

Regarding export orders, 28.5% of enterprises confirmed more export orders in the third quarter compared to the previous quarter; 19.8% of enterprises experienced fewer export orders and 51.7% of enterprises kept export orders stable. Trends in the fourth quarter compared to the third quarter, 37.6% of enterprises expected to have an increase in export orders; 13.1% of enterprises expected a decrease and 49.3% of enterprises expected to be stable.

Regarding cost of production, 26.7% of enterprises confirmed cost of production per unit of product in the third quarter increased compared to the previous quarter; 9.7% of enterprises recorded a decrease in the cost and 63.6% of enterprises predicted the cost was stable. The trend in the fourth quarter compared to the third quarter, 20.6% of enterprises expected an increase in cost of production; 11.7% enterprises believed a decrease in the cost and 67.7% of enterprises expected cost of production stable

Regarding selling price, 15% of enterprises predicted an increase in the selling price in the third quarter compared to the previous quarter; 12.7% of enterprises recorded selling prices was lower and 72.3% of enterprises had stable selling prices. Expected selling price of products in the fourth quarter compared to the third quarter, 16.1% of enterprises predicted higher selling prices; 8.8% of enterprises forecasted lower selling prices and 75.1% of enterprises forecasted selling prices stable.

Regarding product inventory, 21.7% of enterprises with inventory in the third quarter increased compared with the previous quarter; 30.9% of enterprises had a decrease in inventory and 47.4% of enterprises remain stable. The trend of the fourth quarter compared to the third quarter, there were 16.2% of enterprises predicted an increase in the inventory; 33.5% of enterprises said that decrease in inventory and 50.3% of enterprises expected to remain stable.

Regarding input inventory, 19.7% of enterprises said that the input inventory increased in the third quarter compared to the second quarter; 28.4% of enterprises said that it was reduced and 51.9% of enterprises responded they remained unchanged. It was expected that in the fourth quarter compared to the third quarter, there were 14.9% of enterprises forecasted an increase in input inventory; 30.7% enterprises forecasted a decrease in input inventory and 54.4% of enterprises believed that it would remain unchanged in input inventory.

5. Service operation 

Retail sales of consumer goods and services

Gross retail sales consumer goods and service in September were estimated at 270.6 trillion VND, going up by 0.6% over the previous month and up 9.7% over the same period last year, of which: retail sales of goods reached 207.9 trillion VND, up 1.9% and up 11.8%; revenue from accommodation and catering services reached 30.2 trillion VND, down 6.8% and 2.7%; travel tourism revenue reached 2.7 trillion VND, down 9.9% and up 7.7%; revenue from other services reached 29.9 trillion VND, up 0.8% and up 3.2%. Generally for 9 months, gross retail sales of consumer goods and services was estimated at 2374.5 trillion VND, up 9.8% over the same period last year (excluding price factor, the growth was 9.1%), higher than the increase of 7.3% in the same period in 2014).

By economic activity, retail sales in 9 months reached 1802.9 trillion VND, accounting for 75.9% of the total and increasing by 10.6% over the same period last year, of which some commodities increased significantly, as follows: food and foodstuff by 15%; household appliances, tools and equipment were estimated to increase by 13.2%; garment by 10.9%; cultural and educational items by 10.6%; transportation gained an increase of 8.1%.

Revenue from accommodation and catering services in 9 months obtained 276.9 trillion VND, accounting for 11.7% of the total and increasing by 6.5% over the same period last year, of which Hai Phong’s revenue increased by 23.9 %; Binh Duong increased by 19.1%; Thanh Hoa increased by 18.6%; Hanoi increased by 5.9%; Ho Chi Minh City increased by 5.4%.

Tourism and travelling revenue in 9 months reached 22.5 trillion VND, accounting for 0.9% and up 0.5% over the same period last year, of which tourism revenue of Ho Chi Minh City increased by 8.3%; Da Nang increased by 7.5%; Binh Dinh increased by 7%; Binh Thuan increased by 6%; Hanoi increased by 4.3%.

Revenue from other services in the first 9 months reached 272.2 trillion VND, accounting for 11.5% of the total and increasing by 9% over the same period last year, of which some provinces had service revenue increased over the same period last year as follows: Bac Ninh by 16.2%; Nam Dinh by 12.2%; Quang Ninh by 10.7%; Hai Duong by 10.5%; Vinh Phuc by 9.9%; Quang Nam by 7%; Nghe An by 6.7%; Kon Tum by 4.8%; Lam Dong by 3.5%; Hau Giang by 3.5%; particularly, two big cities Ho Chi Minh City and Hanoi achieved a good increase at 14.3% and 8%, respectively.

Passenger and freight transportation

Passenger transport in 9 months was estimated at 2434.1 million passengers, up by 7.5% and 105.7 billion passengers-kilometers, by 7.3% over the same period in 2014, including: central transport was 25.6 million passengers, increasing by 1.2% and 26.9 billion passengers.kilometers, increasing by 5.7%; local transport reached 2408.5 million passengers, an increase of 7.6% and 78.8 billion passengers.km, an increase of 7.9%. Passenger transport by roadways in 9 months was estimated at 2295.8 million passengers, increasing by 7.8% and 79.5 billion passengers-kilometers, increasing by 8.3% over the same period last year; airways reached 14.2 million passengers, increasing by 6.2% and 20.9 billion passengers-kilometers, increasing by 5.4%; railway reached 8.6 million passengers, down 6.6% and 3.2 billion passengers.km, down 2.1%; Seaway reached 4.2 million passengers, up 6.2% and 201.1 million visitors.km, up 5.1%.

Freight carriage in 9 months was estimated at 835.1 million tons, increasing by 5.8% and 166.7 billion tons-kilometers, increasing by 2.8% against same period last year, of which domestic transport reached 811.3 million tons, up 5.9% and 74.1 billion tons.km, up 5.7%; foreign transport reached 23.8 million tons, down 4.2% and 92.5 billion tons-kilometers, up 0.6%. Freight carried by roadways reached 643.1 million tons, up 6.5% and 35.7 billion tons.km, up 7%; inland waterways reached 143.4 million tons, up 3.9% and 28.5 billion tons.km, up 4.5%; seaways reached 43.4 million tons, up 3.8% and 99 billion tons.km, up 1.1%; railways reached 5 million tons, down 5.4% and 3.1 billion tons.km, down 2.1%.

International visitors to Viet Nam

International visitors to Vietnam in September were estimated at 626.3 thousand, decreasing by 5.8% over the previous month and by 8.3% over the same period last year. Particularly, visitors from most countries in Northeast Asia declined compared to the previous month, but visitors from Japan increased by 7.9%; visitors from Southeast Asian countries increased compared to the previous month, particularly those from Indonesia and Thailand decreased. For visitors from the Americas, visitors from the US and Canada in September fell sharply over the previous month, of which visitors from the US dropped 12.2%; Canada decreased by 24.3%. Visitors from most major European markets in September decreased compared to August, with arrivals from Finland and Russia increasing by 5.9% and 8.1% respectively.

Generally for 9 months, international visitors to Vietnam were estimated at 5689.5 thousand, decreasing by 5.9% compared to the same period last year, of which arrivals by airways reached 4709.6 thousand, decreasing 1.9%; by roadway reached 943.4 thousand, decreasing by 21.6%; by seaway reached 36.5 thousand, down 18.8%.

In 9 months, visitors to our country from Asia reached 3842.1 thousand, down 5.9% compared to the same period last year, of which visitors cames from some countries  were as follows: China 1260.6 thousand, down 18.2%; Cambodia 168.2 thousand, down 43.5%; Thailand 141.3 thousand, down 27.6%; Laos 83.5 thousand, down 25.9%; Philippine 72.6 thousand, down 9.1%. Some countries and territories had visitors to Vietnam as follows: South Korea 810.7 thousand people, up 31.4%; Japan 498.5 thousand people, up 2.6%; Taiwan 330.2 thousand people, up 8.4%; Malaysia 250.5 thousand people, an increase of 3.3%; Singapore 165.5 thousand people, an increase of 16.9%.

Visitors from Europe were estimated at 866.3 thousand people, down 3.7% compared to the same period last year, of which visitors from some countries reduced: Russia 236.3 thousand, down 10.6%; France 157.8 thousand, down 3.8%; Britain 154.3 thousand, down 1.4%. Some countries recorded a high number of visitors to Vietnam as follows: Germany 105.9 thousand, an increase of 2.1%; the Netherlands 38.9 thousand, up 3.2%; Spain 33 thousand people, up 8.7%; Italy 29.2 thousand people, an increase of 5.7%.

Visitors from the Americas reached 446.3 thousand, an increase of 5% over the same period last year, of which visitors from the United States reached 368.2 thousand, an increase of 7%. Visitors from Oceania reached 252.6 thousand turns of people, down 7.1%, of which visitors from Australia reached 228.5 thousand, down 7.2%.

II. MACROECONOMICS STABILIZATION AND INFLATION CONTROL

1. Construction and development investment

Construction and investment activities from the beginning of the year were improved and achieved good results. Some key factors affected to enhance the growth of this sectors in last months: Promotion on investment was strengthened; the price of gasoline and oil decreased, leading the cost of raw materials and construction materials were stable to facilitate investors to speed up the progress of implementation of construction projects and sites; Financial and monetary policies continued to gain effects, bringing chances for enterprises to access capital, expand and develop production and business. These advantages contributed to promote the attraction and disbursement of investment capital, affecting economic growth.

Construction

The value of construction production in 9 months at current prices was estimated at 660.9 trillion VND, including: State sector reached 58 trillion VND, accounting for 8.8%; non-state sector gained 561.4 trillion VND, making up 84.9%; FDI sector reached 41.5 trillion VND, representing 6.3%. In the total production value, the value of construction and production of housing projects was 266.5 trillion VND; non-residential buildings reached 106.5 trillion VND; civil engineering works achieved 214.8 trillion VND; specialized construction activities witnessed 73.1 trillion VND.

Construction production value in 9 months at constant 2010 price was estimated at 524.4 trillion VND, a rise of 9.3% over the same period in 2014, including: the State sector reached 47.2 trillion VND, increasing by 3.7%; non-state sector achieved 444.1 trillion VND, going up 10.1%; FDI sector witnessed 33.1 trillion VND, climbing up 7%. In the total production value, the value of construction and production of housing projects reached 209.8 trillion VND, expanding by 11.3%; non-residential buildings witnessed 84.8 trillion VND, going down 4.5%; civil engineering works recorded 170.6 trillion VND, jumping up 21%; specialized construction activities reached 59.2 trillion VND, decreasing by 3.9%.

Development investment

The realized investment capital in 9 months of 2015 at current prices was estimated at 909.5 trillion VND, an expansion of 8.5% over the same period last year and an equivalent to 31.9% of GDP, including: Capital State sector reached 355.4 trillion VND, accounting for 39.1% of total capital and going up 7.2% over the same period last year; non-state capital achieved 345.1 trillion VND, making up 37.9% and climbing up 8.8%; foreign direct investment sector gained 209 trillion VND, comprising 23% and rising 10.1%.

The growth rate of the realized investment

9 months of 2013-2015 in compared to the same period of previous year

(At current price)

                                                                                                %

	9 months 2013	9 months 2014	9 months 2015
Total	106.1	110.9	108.5
State sector	104.2	111.5	107.2
Non-state sector	108.5	113.3	108.8
FDI sector	105.6	106.3	110.1

In the investment of the State sector, the realized capital from the State budget in 9 months was estimated at 153.1 trillion VND, equaling 72.7% of the yearly plan and climbing up 4.1% over the same period of 2014, including:

– The capital under central management reached 30.5 trillion VND, equaling 74.9% of the yearly plan and climbing up 0.1% over the same period last year, of which the realized investment under management of the Ministry of Transportation was 5,057 billion VND, equaling 73.6% and expanded by 9.4%; Ministry of Agriculture and Rural Development 2,195 billion VND, equaling 76.8% and decreasing by 5.1%; Ministry of Construction 1,269 billion VND, equaling 81.9% and decreasing by 4.2%; Ministry of Health 1,210 billion VND, equaling 76.5% and increasing by 61.2%; Ministry of Education and Training 589 billion VND, equaling 69.2% and rising by 22.7%; Ministry of Natural Resources and Environment 487 billion VND, equaling 70.9% and reducing 3.1%; Ministry of Culture, Sports and Tourism 391 billion VND, with 66.7% and up 6%; Ministry of Industry and Trade 289 billion VND, equaling 67.1% and expanding by 12.9%; Ministry of Science and Technology 235 billion, equaling 79.5% and up 14.1%; Ministry of Information and Communications 147 billion VND, equaling 81.5% and falling 7.8%.

– The capital under local management reached 122.6 trillion VND, equaling 72.2% of the yearly plan and going up 5.2% compared to the same period in 2014, of which: State budget capital at provincial level witnessed 84.5 trillion VND, equaling 69.1% and climbing up 6.2%; state budget capital at district-level reached 30.9 trillion VND, equaling 77.3% and spreading 3.8%; State budget capital at commune level gained nearly 7.2 trillion VND, equaling 96.8% and decreasing by 0.6%. The realized investment of the State budget of some provinces and cities directly under the Central Government was as follows: Ha Noi reached 16,043 billion VND, equaling 79.6% of the yearly plan and going down 5.2% over the same period last year; Ho Chi Minh city 12,073 billion VND, equaling 62.6% and rising 4.8%; Nghe An 3,640 billion VND, equaling 76.3% and increasing by 5.4%; Binh Duong 3,603 billion VND, equaling 72.6% and rising by 23.1%; Vinh Phuc 3,378 billion VND, equaling 64.5% and expanding by 19.5%; Quang Ninh 3,241 billion VND, equaling 45.6% and jumping up 27.8%.

Foreign direct investment from the beginning of the year to 20^th September, 2015 attracted 1432 newly licensed projects with registered capital of 11.04 billion USD, an increase of 24.3% in number of projects and a rise of 44.5% in the capital compared to the same period in 2014. Besides, 461 projects which were licensed in previous years registered to increase capital with an additional capital of 6,118.7 million USD. Thus, the total registered capital of newly licensed projects and supplementary capital achieved 17.16 billion USD, a growth of 53.4% ​​over the same period last year. In 9 months, some key projects were licensed: Duyen Hai 2 Power Plant in Tra Vinh with a new registered capital of 2.4 billion USD; Samsung Viet Nam Display Company in Bac Ninh with an additional capital of 3 billion USD. The realized FDI capital in 9 months was estimated at 9.7 billion USD, increasing by 8.4% compared to the same period in 2014.

In 9 months, the manufacturing activity attracted the largest foreign investment with a registered capital of 11,369.5 million USD, accounting for 66.3% of the total registered capital; the production of electricity, gas, steam and air conditioning supply witnessed 2,619.2 million USD, accounting for 15.3%; real estate activities reached 1,810.2 million USD, comprising 10.5%; the other sectors gained 1,358 million USD, accounting for 7.9%.

In the whole country, 47 provinces and cities directly under the Central Government had newly licensed foreign direct investment projects in 9 months, of which Tra Vinh had the largest registered capital of 2,526.8 million USD, accounting for 22.9% of total newly registered capital; followed by Ho Chi Minh city with 2,192.9 million USD, making up 19.9%; Dong Nai with 1,298.3 million USD, representing 11.8%; Binh Duong 810.6 million USD, comprising 7.3%; Ha Noi 514.2 million USD, representing 4.7%; Tay Ninh 422.8 million USD, sharing 3.8%; Hai Phong 309.2 million USD, consisting of 2.8%; Vinh Phuc 271.4 million USD, accounting for 2.5%.

Among 56 countries and territories with new investment projects in Viet Nam in 9 months, Malaysia ranked the top with 2,426.6 million USD, accounting for 22% of the total newly registered capital; followed by South Korea 1,975.7 million USD, accounting for 17.9%; United Kingdom 1,267.6 million USD, accounting for 11.5%; Taiwan 757.6 million USD, making up 6.9%; British Virgin Islands 660.9 million USD, representing 6%; Turkey 660.3 million USD, comprising 6%; Hong Kong Special Administrative Region (China) 596.4 million USD, sharing 5.4%; Japan 554.2 million USD, contributing 5%; Singapore 368.6 million USD, accounting for 3.3%.

2. State budget revenue and expenditure

The state budget revenue from the beginning of the year to 15^th September, 2015 was estimated at 640.4 trillion VND, equaling 70.3% of the yearly estimate, of which domestic revenue was 474.6 trillion VND, equaling 74.3%; revenue from crude oil was 49.6 trillion VND, equaling 53.3% of the estimate only because of lower oil price; budget balance revenue from export and import was 112.8 trillion VND, equaling 64.5%. Owing to adjusting the policy of tax on some mineral resources and environmental protection tax on petrol and oil, combining with actively implementing mechanisms and business supporting policies, reforming administrative procedures of tax authorities, many domestic revenues achieved moderately with some revenues already completed yearly estimates: taxes on trade and non-state services achieved 88.4 trillion VND, equaling 74%; personal income tax gained 40.7 trillion VND, equaling 79.3%; registration fee reached 15.4 trillion VND, equaling 99.9%; environmental protection tax recorded 15.1 trillion VND, equaling 117.1%; land use fee witnessed 39.4 trillion VND, equaling 101%. However, some revenues showed slow progress: Tax on state-owned enterprises reached 145.1 trillion VND, equaling 65.7% of the yearly estimate; tax on FDI enterprises (excluding crude oil) gained 94.2 trillion VND, equaling 66.1%.

The State budget expenditure from the beginning of the year ensured the progress of performing major tasks and ad-hoc demands. The state budget expenditure from the beginning of the year to 15^th September, 2015 was estimated at 776.4 trillion VND, equaling 67.7% of the yearly estimate, of which expenditure on development investment was 116.6 trillion VND, equaling 59.8% (expenditure on basic construction investment was 113.2 thousand billion VND, equaling 59.4%); expenditure on socio-economic development, national defense, security and administrative management was estimated at 542.8 trillion VND, equaling 70.8%; debt and aid payments recorded 110.4 trillion VND, equaling 73.6%.

3. Banking, insurance activities

As of 21st September, 2015, credit growth reached 10.78% compared to the end of 2014, the highest growth rate since 2011; capital mobilization of credit institutions increased by 8.9%; total payment facilities expanded by 8.88%. The liquidity of the commercial banking system continued to improve, ensuring the solvency and payment of the system. The average exchange rate of VND against USD fluctuated strongly with flexible adjustments against abnormal changes of the monetary market in China and the world.

The insurance market in 9 months of 2015 recorded positive changes.  The growth rate of revenue of life insurance premium and non-life insurance premium reached over 30% and 12%, respectively. In the past months, insurance enterprises made great efforts in providing packages of new insurance products with attractive benefits for customers. Mechanisms and policies in insurance activities were also increasingly improved and more suitable for all participants.

4. Export and import of goods

Export of goods

Export turnover of goods in August reached USD 14.5 billion USD, lower than USD 19 million compared to the estimated figure. Export turnover in September was estimated at 14.2 billion USD, dropped 1.9% from the previous month, of which the domestic economic sector reached 4.1 billion USD, dropped 0.9%; FDI sector (including crude oil) reached USD 10.1 billion USD, dropped 2.4%. Export turnover of some September commodities decreased compared to the previous month: Fruit and vegetable products decreased by 24.2%; coal decreased by 22.8%; iron and steel fell by 15.8%; petroleum by 14%; footwear fell 13.5%; textiles and garments fell by 4%. Compared to the same period in 2014, export turnover in September 2015 increased by 12.8%, of which the domestic economic sector increased by 2.3%; FDI sector (including crude oil) increased by 17.7%.

Generally for 9 months, export turnover was estimated at 120.7 billion USD, rose by 9.6% year on year. If excluding price factor[9], export turnover in 9 months reached 125.5 billion USD, rose by 14% compared to the same period last year and higher than the 12.6% increase of 9 months of 2014. Of the total export turnover of 9 months, domestic economic sector was estimated at 35.5 billion USD, accounted for 29.4% of the total turnover and dropped 2.7% over the same period last year; FDI sector (including crude oil) reached 85.2 billion USD, accounted for 70.6% and rose by 15.8%[10]. Except for crude oil, this area reached 82.1 billion USD, accounted for 68.1% of total export turnover and increasing by 21.1%.

A number of main products with high turnover over the same period last year: phones and accessories reached 23.2 billion USD, rose by 34.3%; textiles and garments reached 17.1 billion USD, rose by 10.6%; electronic goods, computer and their parts reached 11.4 billion USD, rose by 52.8%; footwear reached 8.8 billion USD, rose by 18.4%; other machinery, instrument and accessory reached 5.8 billion USD, rose by 9.8%; wood and wooden products reached 4.9 billion USD, rose by 9.1%; bags, suitcases, hats, umbrellas reached 2.2 billion USD, rose by 15.6%; cashew nuts reached 1.8 billion USD, rose by 20.6%. Some products decreased both in volume and export turnover: Coal decreased by 77% in volume and 67.1% in turnover over the same period last year; coffee decreased by 30.5% and decreased by 31.6%; rice decreased by 8.7% and decreased by 14.3%; iron and steel fell 7.3% and fell by 15.6%; tea decreased 7.2% and 6.5%. Particularly, crude oil export increased by 4.7% in volume but decreased by 47% in turnover (equivalent to 2.7 billion USD).

Regarding the structure of export goods, the group of minerals and manufacturing industry was estimated at 55.4 billion USD, accounted for 45.9% of the total export turnover (the same period in 2014 accounted for 42.1%) and increased by 19 , 7% compared to the same period last year, of which mobile phones and accessories accounted for 19.2% (the same period was 15.7%), increased sharply to 34.3%; electronic goods, computer and their parts accounted for 9.5% (same period 2014 was 6.8%), rose by 52.8%. Thus, the increase of electronic goods, computer and their parts, phones and their parts (accounted for 28.7% of export turnover) has contributed mainly to the growth of this product group. The group of light industry and handicraft industry reached 47.8 billion USD, accounted for 39.6% (the same period in 2014 accounted for 40.4%) and increased by 7.3%. Notably, the export of 02 groups of agricultural, forestry and fishery products decreased, of which agricultural and forestry products reached 12.8 billion USD, accounted for 10.6% of the total export turnover (same period in 2014). accounted for 12.3%), dropped 5.6% compared to the same period last year (coffee and rice decreased significantly in both quantity and value); fishery products reached 4.7 billion USD, accounted for 3.9% (same period last year accounted for 5.2%) and decreased 17%.

Regarding the export market for 9 months, the US was still the largest export market of Vietnam with a turnover of USD 24.9 billion USD, rose by 19.6% compared to the same period in 2014, of which one exports the number of main products increased: textiles and garments increased by 12.9%; footwear increased by 27.7%; phones and accessories increased 109.6%. The following was EU with 22.8 billion USD, rose by 12.4%, of which all kinds of mobile phones increase by 20.1%; footwear increased by 14.2%; computers and components increased by 53%. ASEAN reached 13.8 billion USD, dropped 1.7%, of which phones fell 3%; crude oil decreased by 12.1%, iron and steel decreased by 11.7%. China market reached 12.5 billion USD, rose by 12.5%, of which computer and components increased by 31.3%; textile fiber increased by 17%; cassava and cassava products increased by 35.8%; rice increased by 9%. Japan reached 10.5 billion USD, dropped 4.9%, of which transport and spare parts fell 6.9%; fishery products decreased by 11.4%. South Korea was estimated to reach 6.3 billion USD, rose by 20.5%, of which phones rose 244.5%; computers increased by 91.2%; wood and wooden products rose 3.2%.

Export in 9 months of 2015 continued to show greater dependence on processing and assembly activities. If excluding 5 major commodity groups (textiles, footwear, bags, backpacks, electronic goods, computer and their parts, phones and their parts), export in 9 months of this year decreased by 4.2% compared to the same period last year.

Import of goods

The import turnover of goods in August reached 14.1 billion USD, 466 million USD lower than the estimated figure, of which machinery, instrument and accessory were 336 million lower; fabric was 125 million USD lower; petroleum was 103 million USD lower than estimated.

Import turnover in September was estimated at 14.3 billion USD, rose by 1.2% over the previous month, of which the domestic economic sector gained 5.9 billion USD, dropped 0.7%; FDI sector reached 8.4 billion USD, rose by 2.6%. Import turnover in the month of some products for production increased compared to the previous month: machinery, instrument and accessory by 10.9%; animal feed and raw materials by 6.2%; plastic products by 4.6%; fabric by 3.2%; cotton by 11.8%. Compared to the same period last year, import turnover in September increased by 9.9%, of which the domestic economic sector increased by 12.6%; FDI sector increased by 8%.

Generally for 9 months, import turnover was estimated at 124.5 billion USD, rose by 15.9% year on year, of which the domestic economic sector was 51.3 billion USD, rose by 9.7%; FDI sector reached 73.3 billion USD, increased by 20.7%. If excluding price factor[11], import turnover in 9 months was estimated at 130.4 billion USD, rose by 21.4% year on year, much higher than the 14.1% increase of 9 months of 2014.

In the first 9 months of this year, import turnover of some goods for processing, assembly and production increased highly compared to the same period last year: machinery, instrument and accessory were estimated at 20.9 billion USD, rose by 30.2%; electronic goods, computer and their parts reached 17.3 billion USD, rose by 31%; phones and their parts reached 8.1 billion USD, rose by 33.6%; fabric reached 7.5 billion USD, rose by 8.7%; iron and steel reached 5.8 billion USD, rose by 7.2%; automobile reached 4.3 billion USD, increased by 71.6%, of which completely built-up cars reached 2.1 billion USD, increased by 113.2%; auxiliary materials textile, garment and footwear reached 3.8 billion USD, rose by 9%; metals reached 3 billion USD, rose by 21.5%; plastic products reached 2.8 billion USD, rose by 22.8%; cotton increased by 44.2% in volume and 17.1% in turnover, equivalent to 248 thousand tons and 191 million USD; means of transport and spare parts increased by 243.6% in turnover, equivalent to 1.4 billion USD thanks to import, rent and purchase of aircraft. Some products had lower import turnover compared to the same period: Plastics reached 4.3 billion USD, dropped 6.7%; petroleum reached 3.9 billion USD, dropped 36.2%; chemicals reached 2.4 billion USD, dropped 1.8%; wood and wooden products reached 1.7 billion USD, dropped 5%; textile figures reached 1.1 billion USD, dropped 1.6%.

In terms of import structure in 9 months, import turnover of capital goods was estimated at 113.5 billion USD, rose by 17% year on year and accounted for 91.1% of total turnover (in the same period in 2014 it accounted for 90.4%), of which machinery, instrument and accessory were estimated at 51.7 billion USD, rose by 28.3% and accounted for 41.5%, rose by 4 percentage points over the same period in 2014; The group of raw materials reached 61.8 billion USD, rose by 8.9% and accounted for 49.6%, dropped 3.3 percentage points. Import turnover of consumer goods in 9 months was 11.1 billion USD, rose by 7% and accounted for 8.9% of total import turnover, lower than 9.6% of the same period in 2014.

Regarding the imported goods market in 9 months, China was still the largest import market of Vietnam with an estimated turnover of 36.8 billion USD, rose by 18.1% over the same period last year, of which import turnover of machinery, instrument and accessory increased by 21.5%; phones of all kinds increased by 18.8%; fabric increased by 12.6%. South Korea ranked second with 20.9 billion USD, rose by 32.4%, of which computers and components increased by 42.4%; machinery, instrument and accessory increased by 77.8%; phone rose by 87%. ASEAN reached 17.6 billion USD, rose by 3.3%, of which machinery, instrument and accessory increased by 14.8%; chemicals increased by 16.7%; Household electrical goods increased by 44%. Japan reached 10.9 billion USD, rose by 19%, of which machinery, instrument and accessory rose by 39.5%; computers and their parts increased by 45.2%; iron and steel increased by 9.6%. EU reached 8.1 billion USD, rose by 23.3%, of which machinery, instrument and accessory rose by 18.9%; means of transport increased by 303.9%; pharmaceuticals increased by 16.3%. The United States reached 6.1 billion USD, rose by 32.4%, of which computers increased by 86.2%; machinery, instrument and accessory increased by 25.4%; cotton increased by 51%.

Trade deficit in September was estimated at 100 million USD. Generally for 9 months, the trade deficit was 3.9 billion USD[12], equaled 3.2% of the total export turnover, of which the domestic sector saw a high trade deficit of 15.8 billion USD (4.1 billion USD in the same period in 2014); FDI sector continued to witnessed a trade surplus of 11.9 billion USD (3.7 billion USD in the same period last year). Particularly, trade deficit from China in 9 months was 24.3 billion USD, a strong increase of 21.3% compared to the same period in 2014. The impact of the exchange rate adjustment of China and Vietnam had not been clearly shown in the final Results of import and export activities in the past 9 months, but in the fourth quarter, it may be affected and trade deficit from China was able to continue to rise.

5. Price index

Consumer price index (CPI)

Consumer price index in September 2015 decreased by 0.21% over the previous month, the only September in the last 10 years had falling CPI^[13], mainly because petroleum prices was downward adjusted on August 19^th and September 3^rd, 2015; liquefied gas prices were downward adjusted on September 1^st, 2015. In addition, the weather changed to the autumn so that the demand for electricity was lower than that in the previous months, which also made the electricity price index fall.

Among commodity and service groups, transport group fell sharply to 3.17%; housing and construction materials decreased by 0.68%; food and catering services decreased by 0.13% (food decreased by 0.24% due to plentiful supply and difficulties in rice export; food decreased by 0.14%; eating-out services decreased by 0.2%); postal services and telecommunications fell by 0.07%. Other groups of goods and services had a slight increase in price index, such as: Education increased by 1.24%, mainly due to the increase of tuition fees in 25 provinces and cities and the increased demand for books and supplies for the new school year; medicine and medical services increased by 0.43% due to the increase in medical service prices in some provinces; garments, hats and footwear rose by 0.21%; beverages and cigarettes increased by 0.1%; household appliances rose by 0.07%; culture, entertainment and tourism rose by 0.03%.

Consumer price index in September 2015 increased by 0.4% compared to December 2014, which was the lowest increase in the last 10 years^[14]. The average consumer price index of the first 9 months of this year increased by 0.74% compared to the same period in 2014.

In general, the consumer price index in 9 months of this year increased relatively slowly. Factors that kept consumer prices low in the first 9 months of this year: (1) Despite abundant supply of food and foodstuffs, our country’s rice export situation was in trouble, making wholesale and retail prices of domestic rice decrease; (2) Prices of essential goods in the world were relatively stable, of which the price of fuel, iron in the world market recently dropped sharply; (3) The level of price adjustment for some goods managed by the State such as education and health care services was lower than in previous years; (4) Ministries, sectors and localities actively and effectively implemented the Resolution No. 01/NQ-CP dated January 3^rd, 2015 of the Government on main tasks and solutions to direct the executive operation of the socio-economic development plan and the State budget estimate for 2015.

Core inflation in September 2015 increased by 0.06% over the previous month and by 1.87% compared to the same period last year. The average core inflation in 9 months of 2015 increased by 2.15% compared to the average of the same period in 2014.

Gold and US dollar price index

Gold price index in September 2015 increased by 3.54% compared to the previous month; decreased by 1.58% compared to December 2014; dropped 5.83% compared to the same period last year. The US dollar price index in September 2015 increased by 2.71% compared to the previous month; increased by 5.1% compared to December 2014 and increased by 5.9% compared to the same period in 2014.

Producer price index

The producer price index of agricultural, forestry and fishery products in 9 months of 2015 increased by 0.45% compared to the same period last year (the first quarter increased by 2.05%; the second quarter increased by 0.23%; the third quarter decreased 0.91%), of which the producer price index of agricultural products increased by 1.29%; producer price index of forestry products increased by 4.54% and fishery products decreased by 2.86%. The producer price index of industrial products decreased by 0.74% compared to the same period of 2014 (the first quarter increased by 0.15%; the second quarter decreased by 0.36%; the third quarter decreased by 0.78%), of which the producer price index of mining products decreased by 10.8%; the producer price index of manufacturing products decreased 0.01%; electricity and electricity distribution price index rose by 4.63%; the clean water, waste, waste water and garbage treatment increased by 2.19%.

Input price index for production in the first 9 months increased by 1.8% over the same period last year, of which the highest increase was seen in the machinery and equipment with 4.76% (the first quarter increased by 3.77%, the second quarter increased by 3.98%, the third quarter increased by 6.55%); the mining increased by 3.22% (the first quarter increased by 2.35%; the second quarter by 3.88%; the third quarter by 3.46%); water supply and waste and wastewater treatment increased by 3.21% (the first quarter increased by 3.99%; the second quarter by 2.95%; the third quarter by 2.7%); processing, repairing and installing machinery and equipment rose by 3% (the first quarter increased by 2.78%; the second quarter by 3.62%; the third quarter by 2.59%); agriculture, forestry and fishery increased by 2.96% (the first quarter increased by 3.46%; the second quarter by 3.74%; the third quarter by 1.7%); food, beverage and tobacco rose by 2.17% (the first quarter increased by 3.12%; the second quarter by 1.8%; the third quarter by 1.58%); rubber, non-metallic minerals products increased by 1.41% (the first quarter increased by 1.84%; the second quarter by 1.49%; the third quarter by 0.9%); processed wood, paper and print paper increased by 1.21% (the first quarter increased by 1.05%; the second quarter by 1.37%; the third quarter by 1.23%).

The transportation and storage price index in 9 months of 2015 decreased by 2.89% compared to the same period in 2014, mainly due to the sharp decrease in railway and roadway transport services price index at 5.81% (the first quarter decreased by 3.18%, the second quarter by 6.67%, the third quarter by 7.53%). Other transportation services price index increased or decreased as follows: Storage and transport support services increased by 1.24%; inland waterway decreased by 1.76%; particularly airways price remained stable.

The producer price index of services in 9 months of 2015 increased by 1.34% compared to the same period last year, of which the price index for accommodation and catering services increased by 2.96%; information and communication by 0.42%; education and training increased by 5.5%; health and social work activities increased by 2.05%; professional, scientific and technological activities increased by 1.83%; administrative and support activities increased by 1.63%.

Merchandise export and import price index

The merchandise export price index in the first 9 months of 2015 decreased by 3.86% compared to the same period last year, of which some items saw a sharp decrease in price index: crude oil fell by 51.31%; gasoline of all kinds decreased by 48.49%; rubber declined by 25.68%; machinery, equipment, tools and other spare parts shrank by 17.65%; coal decreased by 9.55%.

The merchandise import price index in the first 9 months of 2015 decreased by 4.5% compared to the same period in 2014, of which some items had a sharp decrease in price index: Liquefied natural gas decreased by 41.59%; gasoline of all kinds decreased by 38.4%; rubber decreased by 17.32%; fertilizers of all kinds decreased by 14.99%; iron and steel decreased by 13.1%; animal feed and raw materials decreased by 10.42%; fibers and yarns decreased by 8.61%.

The merchandise term of trade^[15] in the first 9 months increased by 0.67% over the same period last year, of which the term of trade of fishery products increased by 4.63%; iron and steel increased by 7.53%; wood and wood products increased by 4.98%.

 III . SOCIAL ISSUES          

1. Labor and employment

As of 01 October 2015, labor force aged 15 years and over of the whole country was estimated at 54.32 million persons, a year on year increase of 11.7 thousand, of which male employees was 28.12 million persons, made up 51.77%; female employees was 26.20 million persons, accounted for 48.23%. By region, the employed population aged 15 years and over working in urban and rural area was 16.87 million persons and 37.45 million persons respectively with the corresponding share of 31.06% and 68.94%.

As of 01 October 2015, labor force in working age was estimated at 47.78 million persons, a year on year increase of 9.3 thousand persons, of which male employees was 25.75 million persons, made up 53.9%; female employees was 22.03 million persons, accounted for 46.1%. Labor force in working age working in urban and rural area was 15.38 million persons and 32.40 million persons respectively with the corresponding share of 32.19% and 67.81%.

Over the last 9 months, the number of employed population aged 15 years and over was estimated at 52.72 million persons, a year on year fall of 177.3 thousand persons, of which employees of the agriculture, forestry and fishery sector were 23.35 million persons, down 1,523.7 thousand persons, made up 44.3%; the industry and construction sector was 11.85 million persons, up 756.4 thousand persons, the corresponding share of 22.5%; and the service sector was 17.52 million persons, up 590 thousand persons, with the corresponding share of 33.2%.

For 9 months, nationwide unemployment rate was estimated at 2.36% (Q1, Q2 and Q3 figures was 2.43% and 2.42%, and 2.24%, respectively), of which urban was 3.42% (Q1, Q2 and Q3 figures was 3.43%, 3.53% and 3.31%, respectively), and rural area was 1.86% (Q1, Q2 and Q3 figures was 1.95%, 1.91 and 1.73%, respectively).

 The youth unemployment rate (aged 15 to 24) in 9 months was estimated at  6.74% (Q1, Q2 and Q3 figures was 6.6% and 6.68%, and 6.9%, respectively), of which urban was 11.52% (Q1, Q2 and Q3 figures was 10.95%, 11.84% and 11.7%, respectively), and rural area was 5.05% (Q1, Q2 and Q3 figures was 4.99%, 1.91 and 5.23%, respectively).

The unemployment rate aged 25 years and over in 9 months was estimated at 1.25% (Q1, Q2 and Q3 figures was 1.41% and 1.3%, and 1.03%, respectively), of which urban was 1.86% (Q1, Q2 and Q3 figures was 1.99%, 1.92% and 1.67%, respectively), and rural area was 0.96% (Q1, Q2 and Q3 figures was 1.13%, 1.02 and 0.72%, respectively).

The underemployment rate at working age in 9 months was estimated at 1.93%; (Q1, Q2 and Q3 figures was 2.43%, 1.8%, and 1.52%, respectively), of which urban and rural area was 0.92% and 2.4%, respectively.

Although our country had a large labor force participation rate and low unemployment rate, the percentage of employment in the informal economy in non-agricultural activities[16] was moderately high. Percentage of employment in the informal economy in non-agricultural activities in Q3 2015 made up 56.4% of the total employment in non-agricultural activities, of which urban and rural area was 47.1% and 64.5%, respectively.

2. Living standards and social security

In September, the whole country witnessed 3.7 thousand households suffering from food shortage a year on year fall of 64.8%, corresponding to 17.2 thousand persons suffering from food shortage, declined by 62.6%. Generally, for 9 months of 2015, the whole country witnessed 227.8 thousand households suffering from food shortage a year on year fall of 25%, corresponding to 938.7 thousand persons suffering from food shortage, declined by 27.3%. In order to overcome food shortage, from the beginning of the year, all administrative levels, sectors and organizations from central to local level supported these households with 19.2 thousand tons of food and 8.5 billion VND, in September alone supported 620 thousand tons of food. The rate of poverty households was estimated about 7.2% in 2015, declining by 1.2 percentage points against 2014.

According to the preliminary report, the total funding for social security and poverty reduction in  the 9 months of 2015 was 3,443 billion VND, including: 2,179 billion VND of gifts and assistances for policy beneficiaries; 940 billion VND to support poor households and 324 billion VND for hunger-relief and other social reliefs. Besides, over 7.7 million health insurance cards, free health care books/cards were donated to policy beneficiaries in the whole country.

3. Education and Training

At the end of the school year 2014 – 2015, there were 14,203 preschools nationwide; 15,277 primary schools; 10,878 lower secondary schools and general schools; 2,767 secondary school and Upper secondary schools; 308 boarding schools for ethnic minorities; 876 semi-boarding schools for ethnic minorities and 726 provincial and district continuing education centers.

As of September 2015, there were 32 out of 63 provinces and cities directly under the Central Government gained universal preschool education for five-year-old children; all 63 provinces and cities directly under the Central Government achieved at least level of the universal primary education of which 10 localities were recognized as level 2 of the universal primary education.

According to the results of the 2014 Multiple indicator cluster survey (MICS5), the percentage of children in first grade of primary school who attended pre-school during the previous school year was 96.8% ; the percentage of children of school-entry age who entered the first grade of primary school was 97.9%, The percentage of children of primary school age out of school  was 1.5%.  The percentage of children of lower secondary age who entered the first grade of lower secondary school was 90.4%; the percentage of children of lower secondary school age out of school was 6.0%. Transition rate to secondary school was 90%. The percentage of children of upper secondary age who entered the first grade of upper secondary school was 70.7%; the percentage of children of upper secondary school age out of school was 24.1%.

According to preliminary reports, in the school year 2014 – 2015, the number of registered candidates for the national graduation exam of upper secondary schools was 1,005.7 thousand candidates. National graduation exam of upper secondary schools graduation rate this year reached 93.4%, down 5.3 percentage points compared to the previous school year; the graduation rate of complementary education was 70.1%, down 18.9 percentage points.

End of the school year 2014-2015, there were 554 thousand university and college graduates, of which 353.9 thousand university graduates and 200.1 thousand college graduates. The number of university and college graduates from public schools was 470.1 thousand persons, accounting for 85% of the total number of graduates.

At the beginning of the school year 2015-2016, there were over 4.5 million preschool children; 15.2 million general school pupils enrolled, of which 7.6 million primary school pupils, 5.2 million pupils at lower secondary school and 2.4 million pupils at upper secondary school.

4. Culture – Sport

In the 9 months of this year, many large-scale cultural activities were held in localities: Celebrating 40 years of Reunification of the Country; 125 years of birth of President Ho Chi Minh; 70 years of August Revolution and National Day; the 27th National Art Photo Exhibition in Hai Phong; 2nd Asia Pacific Poetry Festival; The 21st Don Ca tai tu Festival in Long An; World heritage photo exhibition in Thanh Hoa; the 8th International Art Photo Contest in Vietnam; Traditional Music Festival of ASEAN member states in 2015; photo exhibition “ASEAN – 48 years of peace, development and 20 years of Vietnam joining ASEAN”.

The mass sports movement took place enthusiastically throughout the country with many activities: a day of Olympic jogging for people’s health; Sports Games for Ethnic Minorities in Region II in Kon Tum; the Third traditional wrestling in Hanoi; Traditional Martial Arts Competition for LetsViet championship in Ho Chi Minh City; Da Nang International Marathon 2015; Hanoi Open Bicycle 2015 race; National Family Sports Competition 2015; , etc.

Regarding high performance sports, Viet Nam Sport Delegation won 312 gold medals, 233 silver medals and 182 bronze medals in regional, world tournaments. At the 28th Southeast Asian Games (28th SEA Games), Viet Nam Sports Delegation successfully defended the 3rd position out of 11 participating countries  with 73 gold medals, 53 silver medals and 60 bronze medals, breaking 13 SEA Games records.

5. Epidemic diseases and food poisoning

In September, the whole country witnessed 3.5 thousand cases of hand, foot and mouth disease 64 thousand viral encephalitis; 47 cases of typhoid; 16 cases of meningococcal meningitis. Particularly, hemorrhagic fever continued tended to increase, especially in the Southern provinces. In September, there were over 10,000 cases of hemorrhagic fever, of which 6 deaths.

For 9 months, the whole country witnessed over 29 thousand cases of hand, foot and mouth disease (4 deaths); 32.9 thousand cases of hemorrhagic fever (18 deaths); 720 cases of viral encephalitis (21 deaths); 289 cases of typhoid; 88 cases of meningococcal meningitis (3 deaths). Since the beginning of the year, there was no case of new cholera and influenza type A (H5N1).

In the month, 1,039 cases of HIV infection were detected bringing the total number of alive HIV-infected persons over the country was 228.5 thousand persons as of 17 September 2015, and the number of cases turned to AIDS was 78.7 thousand persons. The number of persons died of HIV/AIDS nationwide was 79.9 thousand persons.

In September, there were 7 food poisoning cases, poisoned 140 persons. From beginning of the year, there were 103 severe food poisoning cases, poisoned 3132 persons, of which 18 deaths).

6. Traffic accidents

In September (from 16 August to 15 September), there were 1,837 traffic accidents occurred nationwide, including 832 traffic accidents from less serious to more and 1005 traffic collisions, causing 697 deaths, 479 injuries and 1,216 slight injuries. Compared to the same period last year, the number of traffic accidents decreased by 7.7% (the number of traffic accidents from less serious to more increased by 1.1% and the number of traffic collisions went down by 13.9%); the number of deaths rose by 0.1%; the number of injuries decreased by 12.8% and the number of slight injuries decreased by 20.2%.

Generally, for 9 months, there were 16,459 traffic accidents occurred nationwide, including 7,534 traffic accidents from less serious to more and 8925 traffic collisions, causing 6,518 deaths, 4,302 injuries and 10,627 slight injuries. Compared to the same period last year, the number of traffic accidents in 9 months of this year decreased by 12% (traffic accidents from less serious to more decreased by 3.1%; the number of traffic collisions declined by 18.3%); the number of deaths decreased by 3.6%; the number of injuries dropped 2.6% and the number of slight injuries decreased by 20.8%. On average 60 traffic accidents occurred a day in 9 months of 2015 nationwide, including 28 traffic accidents from less serious to more and 32 traffic collisions, caused 24 deaths, 16 injuries and 39 slight injuries.

7. Damages caused by natural disasters 

In 9 months, natural disasters affected production and living condition across the country. According to preliminary reports, natural disasters caused 123 deaths and missing, 148 injuries; over 900 thousand houses were collapsed and swept away; 25.1 thousand houses were flooded, hit by landslide, roof ripped-off; 40.7 thousand hectares of rice and 17 thousand hectares of arable crops were damaged. Localities suffered much from natural disasters: Quang Ninh suffered 19 deaths and missing and 32 wounded; 9.5 thousand houses collapsed, roof ripped-off and flooded; 4.3 thousand hectares of rice and crops were flooded and damaged; Son La suffered 18 deaths and missing and 20 wounded; nearly 2 thousand houses collapsed, roof ripped off and flooded; 2.5 thousand hectares of rice and arable crops were damaged; Quang Ngai suffered 7 deaths and missing, 10 wounded; over 800 houses hit by landslide, roof ripped-off and flooded; 4.8 thousand hectares of rice and arable crops were flooded, damaged. The total value of damage caused by natural disasters in 9 months was estimated at 4.5 trillion VND, of which Quang Ninh suffered 2.7 trillion VND. According to preliminary reports, the total amount of relief allocated for localities affected by natural disasters from the beginning of the year was over 349 billion VND.

8. Environment protection, fire and explosion prevention

In September 2015, 1,013 cases of violating regulations of environment protection were found, of which 408 cases were addressed with total fine of over 11.2 billion VND. From the beginning of the year, 8.3 thousand cases of environmental violations across the country were found, of which 3.4 thousand cases were addressed with a total fine of 225.7 billion VND.

In this month, there were 190 cases of fire and explosion across the country, causing 6 deaths and 15 injuries, with an estimated damage of 405 billion VND. Generally, for the first 9 months, there were 2,342 cases of fire and explosion across the country, causing 70 deaths and 245 injuries, with an estimated damage of 835.3 billion VND.

In general, our country’s socio-economic situation in the first 9 months of 2015, despite facing many complicated changes in the commodity market as well as the global financial market, still maintained reasonable growth. Inflation continued to be controlled at a low level. The macro policies promulgated and directed by the Government to be implemented in a timely and flexible manner together with the effective and synchronous implementation of solutions to solve difficulties for enterprises were important factors to help domestic production and business improved and developed in a positive direction. However, in the last months of the year, domestic production continued to face many difficulties and challenges: The financial market was forecast to have fluctuations complicated; the price of crude oil was not stable. China is one of the largest consumer markets in the world, so its exchange rate fluctuation will also destabilize the international financial market and cause the negative impact on Vietnam’s agricultural exports. Regarding the import of goods, the high trade deficit of our country to the Chinese market has not been resolved, so in the coming months if the RMB continues to fall in price, the trade deficit of Vietnam with this market will widen. Along with that, our country’s agricultural product export market tends to be narrowed due to the price competition for major products such as rice, coffee from some countries (Thailand, India…).  Besides, many of our country’s consumer goods will also face disadvantages when competing with cheap goods imported from China. This is the pressure to force domestic enterprises to consider their advantages to better deal with fluctuations from the world’s second largest economy. In order to continue to maintain macro stability, to ensure that domestic production and business develop positively against complicated changes of the world economy, especially the Chinese economy, in the last months of the year, branches, levels and localities should implement the following major solutions:

Firstly, to maintain a stable and healthy banking system. To strengthen supervision, improve the quality of risk management in the operation of banks. To synchronously handle bad debts step by step. The exchange rate should be adjusted and ensure the competitiveness of Vietnamese goods in the context of the rapid and unpredictable changes of the international market, especially in the current period when major economies are witnessing enormous and complicated changes and causing great influence on our economy. Along with adjusting interest rates, it is necessary to have positive policies and solutions to boost credit growth, contributing to economic growth.

Secondly, enterprises need to take advantage of every opportunity, to reduce production costs, lower product costs and further improve product quality in order to increase the competitiveness of Vietnamese goods products on the national market. To make good use of human resources and improve productivity as well as capacity of workers in economic areas, especially in the current period when the world situation has many uncertainties. In addition,  enterprises need to build a reasonable business plan in parallel with the fully and comprehensively review the evolution of domestic and foreign economic conditions to proactively respond to the changes of exchange rate, and at the same time increase investment to achieve the best production and business efficiency when Vietnam fully fulfills its international commitments on opening market.

Thirdly, to actively implement trade promotion programs, investment, seeking and expanding export markets, especially agricultural products to proactively deal with prices of agricultural products which are bearing downward pressure on the Chinese market in the near future because this is a big partner of a series of agricultural products for export of Vietnam. Along with new markets, the branding of each item need to be paid attention to have a reasonable investment plan. To focusing on the development of plans and strategies for developing specific products and industries associated with the national brand development strategy to promote effective and sustainable export and import. To organize commodity production following the global value chain, creating products with high uniformity to increase the ability to export to different markets. To continue to promote institutional reforms in parallel with operate policies to ensure flexibility in all market developments.

[1] The 9-month growth of industrial activities in years from 2011 to 2014 was 9.54%, 8.50%, 4.80%, 5.58%, respectively.

[2] The 9-month growth of the manufacturing in years from 2012 to 2014 was 8.74%, 6.58%, 7.09%, respectively.

[3] The 9-month growth of the construction activities in years from 2011 to 2014 was – 0.01%, 2.78%, 5.31%;, 6.61%, respectively.

[4] The IIP growth in the first, second and third quarter reached 9.4%, 10.2%, 9.9%, respectively.

[5] Compared to the same period last year, the IIP of the mining and quarrying, the manufacturing, the production and distribution of electricity, the water supply, sewerage, waste management and remediation activities increased by 0.4%, 8.3%, 11.2%, 6%, respectively.

[6] Unusual heavy rains in Quang Ninh in August greatly affected the production of the coal industry. Coal production in August was only 2.75 million tons, a downturn of 5.3% compared to the same period last year. In September, the extraction of coal recovered, so that coal production in September was estimated at 3.28 million tons, an increase of 7.6% over the same period in 2014.

[7] Source: National business registration information system, Ministry of Planning and Investment.

[8] Because this time coincided with the Lunar July, the people were unwilling to establishing enterprises.

[9] Export price index in 9 months of 2015 decreased by 3.86% compared with 9 months of 2014.

[10]  In 9 months, the export of goods of the FDI sector contributed 10.5 percentage points to the increase in total export turnover, while the domestic economic sector reduced by 0, 9 percentage points.

[11] Import price index in 9 months of 2015 decreased by 4.5 % compared with 9 months of 2014.

[12] In 9 months of 2014, trade deficit was 411 million USD.

[13] September CPI compared to the previous month of some years was as follows: In 2006 increased by 0.3%; in 2007 increased by0.51%; in 2008 increased by 0.18%; in 2009 increased by 0.62%; in 2010 increased by 1.31%; in 2011 increased by 0.82%; in 2012 increased by 2.2%; 2013 increased by 1.06%; in 2014 increased by 0.4%.

[14] September CPI compared to December last year of some years as follows: In 2006 increased by 5.1%; in 2007 increased by 7.32%; in 2008 increased by 21.87%; in 2009 increased by 4.11%; in 2010 increased by 6.46%; in 2011 increased by 16.63%; in 2012 increased by 5.13%; 2013 increased by 4.63%; in 2014 increased by 2.25%.

[15] Merchandise export price index / import price index.

[16] Employment in the informal economy in non-agricultural activities include those who do not work in agriculture, forestry and fisheries and belong to one of the following three groups: (i) family labor in who are not entitled to salary; (ii) owners  or cooperative members of establishments without business registration and(iii) wage earners in the formal sector who are not entitled to enter into a labor contract or to be entered into a labor contract with definite term but not paid compulsory social insurance by employers.