Domestic Consumption, Tourism Fuel Vietnam's Economic Growth in Seven Months

In the first six months, total retail sales and consumer service revenue amounted to an estimated 3,889.5 trillion VND, up 12.9% year-on-year. After excluding price factors, real growth stood at 7.3%, reflecting a solid recovery in domestic purchasing power and consumer demand. Total retail sales of goods and consumer service revenue reached an estimated 3.18 quadrillion VND (120.7 billion USD) during the January–May period, up 11.2% year-on-year. Vietnam's July CPI increased 3.08% from December 2025 and 4.45% year-on-year. Average CPI in the first seven months rose 4.39% year-on-year, while core inflation increased 4.19%. Success will increasingly be measured by whether foreign investment brings technology, develops local talent, establishes research and development (R&D) capability, and integrates Vietnamese enterprises more deeply into global value chains, according to HSBC. From 00:00 on August 1 to 23:00 on August 8, 2026 (GMT+7), passengers can hunt for Eco tickets from only 0 VND (excluding taxes and fees) on all Vietjet routes at website www.vietjetair.com and the Vietjet Air app With a total investment of 7.774 trillion VND (nearly 296 million USD), the project is currently the largest solar power plant by installed capacity in Tay Ninh. Industrial production expanded steadily as newly commissioned production facilities came into operation and businesses continued to scale up manufacturing. The resolution on renewing Vietnam’s development model goes beyond the goal of rapid and sustainable economic growth. It establishes a comprehensive development model designed to unlock new growth space, mobilise resources more effectively, strengthen national competitiveness, and help Vietnam achieve its goal of becoming a developed, high-income country by 2045. According to the National Statistics Office (NSO) under the Ministry of Finance, inflation remained under control, with the consumer price index (CPI) edging down 0.1% in July from the previous month. Average CPI in the January–July period rose an estimated 4.39% year-on-year, staying within the yearly target. Since its debut in Vietnam in 2011, the annual fair has become an important trade promotion platform, contributing to stronger economic and commercial ties between Zhejiang and Vietnam. The programme will be funded by state-owned commercial banks, which have pledged to provide concessional loans to help SMEs gain better access to capital to expand production and business activities, and support economic growth. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,649 VND/USD, and the floor rate 24,111 VND/USD. Ho Chi Minh City is calling for investment in around 250 projects across nine priority sectors, mainly focusing on developing the International Financial Centre, digital finance, smart banking and supporting data infrastructure, large-scale logistics and port developments, transport infrastructure supporting trade, import-export activities, industry and smart logistics, green industries, clean energy and next-generation industrial parks. China is the world's largest fruit market and Vietnam's biggest export destination for fruits and vegetables. Rising import demand in recent years has created significant opportunities for Vietnamese producers. The Government has extended the exemption of agricultural land use tax until December 31, 2030 while allowing businesses and individuals to defer payments of VAT, corporate income tax and personal income tax during 2026. More than 125,900 new enterprises were established between January and July, up 16.9% from a year earlier. In the first seven months of 2026, the country's total exports of agro-forestry-aquatic products reached nearly 42.8 billion USD, up 7.5% from the same period last year. The projects in Phu Quoc have been implemented under tight deadlines. Since May 2025, the Prime Minister has directed preparations for APEC 2027, including accelerated infrastructure development on the special zone. An Giang province and investors have subsequently launched a number of major projects involving complex technical requirements and demanding construction schedules. The NSO also reported that realised FDI reached an estimated 15.2 billion USD during the January-July period, an increase of 11.8% from a year earlier and the highest seven-month disbursement recorded over the past five years. Vietnam's total import-export turnover reached 659.58 billion USD in the first seven months of 2026, up 28.1% year-on-year. Deputy Director of the Department of Customs Nguyen Thanh Hung said the draft law establishes a legal framework to convert fragmented customs documents into standardised digital data, enabling AI to process and analyse information for automated customs clearance. According to Deputy Minister of Agriculture and Environment Dang Ngoc Diep, agricultural, forestry and fishery exports fetched an estimated 35.88 billion USD in the first six months of 2026, up 6% year-on-year. The sector's GDP expanded by more than 3.8%, exceeding the government's 3.7% target. The results were underpinned by stable production, particularly in key industries. The utilisation rate of FTA tariff preferences remains high, with some agreements, such as the EU-Vietnam Free Trade Agreement (EVFTA), the ASEAN-India FTA, and the ASEAN-Australia-New Zealand FTA, recording rates of 30-50%. Copyright, VietnamPlus, Vietnam News Agency (VNA) Editor-in-chief, Mr. Tran Tien Duan.