Latest News about economic growth
The Vietnamese economy could grow by about 6-6.3 percent in 2021, said chief economist Pham The Anh from the Vietnam Institute for Economic and Policy Research (VEPR)
Efforts to boost business and production fuelled by the gradual use of COVID-19 vaccines have helped recover the country’s economic growth, driven largely by the manufacturing and processing activities.
“Legendary story”, “Rising star”, and “Asia’s brightest economy” count among the praise from international organisations in relation to Vietnam’s economic development over recent years.
The rate of public investment disbursement in 2020 was the highest in the last five years, contributing to enhancing economic growth and enabling Vietnam to be one of the highest-growth economies worldwide.
Vietnam is well-positioned to revive its economy this year due to a boost in private investment and exports, experts told a forum in HCM City on Monday.
Vietnam’s gross domestic product (GDP) this year is expected to grow by 2.91 percent compared to 2019, according to Director General of the General Statistics Office (GSO) Nguyen Thi Huong.
Vietnam’s prospects appear positive as the economy is projected to grow by about 6.8 percent in 2021 and, thereafter, stabilise at around 6.5 percent, according to the latest World Bank’s economic update for Vietnam “Taking Stock”.
The primary reason for positive economic growth this year is decisive steps to contain the health and economic fallout.
The government is formulating its new economic growth goal for the next five years, amid its struggle against the health crisis and natural calamities undermining its efforts to reach targets.
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Data in the digital era has become an increasingly important resource for economic activities besides land, human resources, and energy from fossil fuel.
For many years, the Vietnamese Government has always focused on setting the goal of annual GDP growth because high growth can help the country narrow the development gap with neighboring countries and the rest of the world.
Prime Minister Nguyen Xuan Phuc has issued a directive on the building of plans for socio-economic development and State budget estimate for 2021, with a target of about 7 percent of economic growth for the year.
The central city of Da Nang saw its GRDP for the first half of the year contract by 3.61 percent from the same period in 2019, the first time since the city became a centrally-run locality in 1997.
Vietnam’s gross domestic product (GDP) increased 1.81 percent during the first six months of 2020, the lowest first-half growth pace since 2011, according to the General Statistics Office (GSO).
Vietnam’s efforts to accelerate public investment have gained strong momentum, laying firm groundwork for the country to boost economic growth.
Vietnam has earned the highest trust globally in battling COVID-19, with 95 percent of respondents expressing such a belief in a recent poll by UK data analysis and market research firm YouGov.
International media have continued to speak highly of the leadership of the Communist Party of Vietnam (CPV) and measures taken by the Government to curb the spread of the COVID-19 pandemic.
Prime Minister Nguyen Xuan Phuc chaired a national teleconference between the Government and localities on April 10 to discuss solutions for tackling the COVID-19 pandemic.