Vietnam's growth expected to expand by 6.5% in 2015

Vietnam's economic growth is expected to expand by 6.5 percent in 2015, surpassing the set target of 6.2 percent, according to the National Financial Supervisory Commission (NFSC) in its latest report on Wednesday.

According to the monthly report of the NFSC, the country's GDP growth rate would be 6.4 percent in the first three quarters, higher than the figure of 6.28 percent in the first half, the website of Vietnamese government quoted the report as saying.

The commission attributed the positive outlook to production rebound, especially in the manufacturing and processing industries. Business sector showed signs of recovery and expanded at the fastest pace since 2009.

However, the commission pointed out that the slow progress of government bonds issuance in the first seven months as it met only 34 percent of the year target.

In addition, as of mid-July, budget collection accounted for 52. 3 percent of the year target, lower than the figure of 57.3 percent in the same period last year.

Earlier last week, Vietnamese Prime Minister Nguyen Tan Dung showed his optimism about the completion of preset socio-economic targets this year at a regular cabinet meeting.

The socio-economic situation in July and first seven months was featured with "positive changes" in almost all fields, the PM said.

To maintain growth momentum, the prime minister asked inferior levels to continue improving business environment and national competitiveness while pursuing a flexible interest rate policy, accelerate exports, effectively control trade deficit, beef up equitization and tourism development.

In 2014, Vietnam's Gross Domestic Product achieved a growth of 5.98 percent against 2013.