Update news gdp growth
The Government has issued a resolution on the overall socio-economic recovery programme worth VND350 trillion (US$15 billion) which was approved by the National Assembly a couple of weeks ago.
Vietnam's target of bringing its GDP growth to 6-6.5% in 2022 is entirely possible if it can effectively control the COVID-19, and improve the supply – demand balance, an official of the World Bank (WB) has said.
With an average gross domestic product (GDP) growth rate of 6-7%, Vietnam is being evaluated as an ideal destination for investment, compared to other countries in the region, particularly in the field of the real estate market.
Data shows that industrial production index in the first five months of the year advanced 9.9 percent year-on-year, with manufacturing and processing up 12.6 percent.
The S&P Global Ratings announced late last week it had retained Vietnam’s sovereign credit rating and improved its economic outlook to "positive" from "stable".
Japan's Nikkei newspaper has run a story highlighting the opportunity for Vietnam to rise stronger after the COVID-19 pandemic is completely controlled.
Though COVID-19 has sent the global economy into one of its worst recessions ever, Vietnam posted GDP growth of 2.91 percent in 2020 thanks to its solid control of outbreaks and timely support to both enterprises and local people.
Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).
Pressure from high GDP target in 2021 is expected to help the Vietnamese government to create breakthroughs for growth in subsequent years.
Vietnam is considered one of the 10 nations with the highest gross domestic product (GDP) growth in the world in 2020 and one of the 16 most successful emerging economies, Party General Secretary and State President Nguyen Phu Trong has said.
Experts from the Asian Development Bank (ADB) have revised up the nation’s GDP growth forecasts from 1.8% to 2.3% this year following the acceleration of public investment,
Vietnam is making all-out efforts to boost the disbursement of public investment as it seeks to post GDP growth of 3 percent this year amid the global economic downturn triggered by the COVID-19 pandemic.
The country would remain the only one with positive growth among five major economies in ASEAN, and its economic growth would rebound to 6.7% in 2021.
The International Monetary Fund (IMF) maintains its forecast for Vietnam’s GDP growth at 2.7% in 2020, the highest in Asia, and the pace is expected to speed up to 7% in 2021.
Vietnam should take stronger measures related to origin of goods and products to avoid risks of lawsuits or being taken advantage of by other countries to evade US import tariffs.