Vietnam’s economy has shown signs of recovery but the world is still reeling in the fight against Covid-19. As such, Vietnam needs to be well prepared for any upheaval.

The uncertainties of the global economy, the new Covid-19 mutation, and risks from lawsuits and trade remedies will have an impact on Vietnam’s economy in 2021, experts say.

Vietnam’s economy continues to obtain high growth rate, but Covid-19 has upset all the key tasks and goals of the government and local authorities at different levels.

As businesses and people need emergency aid, former director of the Central Institute of Economic Management (CIEM) Nguyen Dinh Cung believes that the implementation of economic relief solutions needs to be organized in a quick and inexpensive way.

Vietnam’s resources are scarce and are not being used efficiently, experts say.

Vietnam needs to issue special policies for the automobile industry to catch up with other countries in the ASEAN region, said experts at a conference held in Hanoi on Tuesday.

The rapid development of the IT revolution has helped startups generate a buzz in the social circle, establishing a new era of promoting globalisation in all sectors while building a new economy – the sharing economy.

Vietnam must focus on consolidating macro-economic foundations and reforming institutions to increase resilience in the context of global uncertainties, according to the Central Institute for Economic Management.

Within four months, the preliminary results of the Vietnam 2019 Population and Housing Census will be made public. Information about population, education level, jobs, housing and migration will be helpful to form new policies.

The Director of the Central Institute for Economic Management suggested ministries and ministerial-level agencies simplify business conditions and remove ones which are unclear, too vague, and unfeasible before the third quarter of 2019.

Heavy reliance on FDI and high national debts are the two biggest concerns for Vietnam’s economy, experts say.

Removing the quarantine regulation will help simplify administrative procedures for enterprises, but will pave the way for unsafe food to flood the Vietnamese market, some experts say.

VietNamNet Bridge - The goal of cutting 50 percent of business sub-licenses in 2018 may be unattainable as many ministries still don’t have preliminary plans to simplify business conditions.

The latest report about the Vietnam macroeconomy released by the Central Institute of Economic Management (CIEM) shows that macroeconomic indicators are relatively good.

VietNamNet Bridge - The report that Vietnam’s productivity is even lower than that of Laos has sparked concern.

ADB (Asian Development Bank) has predicted a 6.8 percent GDP growth rate for Vietnam in 2018, a figure which is much higher than the average growth rate in the region.

The head of the Vietnam Economics Institute, Tran Dinh Thien, is not optimistic about the foreign invested enterprise sector (FIEs), though it is considered the brightest spot in the economy. 

VietNamNet Bridge - With good GDP growth in the first three quarters of the year, economists have expressed concern about the driving force for economic growth in the years to come and the next stages of development.

VietNamNet Bridge - Under the Investment Law, there are seven prohibited business fields and 243 conditional business fields.