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Summary

12 ECONOMY - POLICY
ECONOMY BECOMING MORE

ACTIVE, CPI RISING AGAIN

The consumer price index (CPI) in November increased
0.32 per cent compared to October, 2 per cent compared to
December 2020, and 2.1 per cent compared to November
last year, according to the General Statistics Office (GSO).
The main reasons for the November increase were rising do-
mestic petrol and oil and gas prices, in line with global rises,
and the gradual movement of localities to the “new normal”,
which put pressure on the prices of goods and services.

8 ECONOMY - POLICY

INDUSTRIAL GROWTH FACES

ONGOING CHALLENGES

The index of industrial production (IIP) increased 3.6 per
cent year-on-year in the first eleven months, according to
the General Statistics Office (GSO). Supportive policies
from the government have had a positive effect in easing
difficulties and obstacles facing enterprises, but the un-
predictable nature of the Covid-19 pandemic is threaten- 24
ing production supply chains and labor supply. To BANKING - FINANCE
maintain growth momentum as the year comes to an end,
further interventions are urgently needed to exert contin- EFFORTS MADE TO PREVENT
ued control over the pandemic.
BANKS FROM POURING MONEY
INTO CORPORATE BONDS

10 ECONOMY - POLICY In the first ten months of this year, the real es-
tate group led in corporate bond issuance
NEW RECORDS TARGETED value, with VND163.9 trillion ($7.2 billion),
accounting for 37.4 per cent of the total is-
FOR IMPORTS AND EXPORTS sued, according to the Vietnam Bond Market
Association (VBMA). The State Bank of Viet-
nam (SBV) recently issued Circular No.
Vietnam’s total import and export turnover reached 16/2021/TT-NHNN and Circular No.
$599.12 billion in the first eleven months of 2021. Notably, 15/2018/TT-NHNN stipulating the purchase
trade is once again in surplus, to the tune of $225 million. of corporate bonds by credit institutions and
If this solid performance can be maintained in December, foreign bank branches. Analysts have said
turnover for the year as a whole will hit record levels, far that the central bank is trying to limit banks
exceeding $600 billion and making a substantial contribu- from pouring money into bonds.
tion to overall economic targets.

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4 KINH TẾ VIỆT NAM Số 74 Ngày 6/12/2021