According to the General Statistics Office, industrial production was estimated to have increased 4 percent in May compared to April and 10.4 percent compared to May last year.
The signs of economic recovery were even clearer when, during the month, the number of newly-established enterprises was at the highest May level for 5 years. Similarly, foreign direct investment stood at 7.71 billion USD, up 7.8 percent year-on-year and the highest increase in the month for 5 years.
One of the highlights of May was the service industry, with the most impressive rebound seen in the tourism industry. The number of international visitors to Vietnam in the first five months totalled 365,000, or 4.5-times higher than in the same period last year. Vietnam hosting the SEA Games 31 in May greatly increased its tourism brand value.
With the achievements posted in the first 5 months, some forecasters believe that economic growth in the third quarter will be a highlight, creating momentum for annual growth to exceed the target of 6-6.5 percent and perhaps even exceed 7 percent./.