A 10-member working group to promote digital economic development has been established by the Ministry of Information and Communications (MIC), led by Deputy Minister Nguyen Huy Dung.
To become a developed country by 2045, Vietnam needs to obtain a GDP per capita of $20,000 per annum. As such, it needs to reach a GDP growth rate of 7.5-8 percent per annum in the next 25 years.
Instead of staying idle and waiting for the pandemic to be contained, many businesses in Vietnam are making investments, training workers and laying down the foundation to make a breakthrough when the Covid-19 pandemic is over.
Vietnam’s rise of three ranking positions to 8th overall is the fastest rise in the top half of the Index and displaces regional partner Thailand in the top 10.
The US-China trade war, Brexit, the US withdrawal from TPP, Covid-19 and internal difficulties all have affected Vietnam’s economy in the last five years.
Vietnam's economy is likely to experience a strong bounce back in 2021 with GDP growing at 6.9% in the best-case scenario
Fitch Solutions holds a more optimistic view on Vietnam’s economic rebound in 2021, with its real GDP growth forecast at 8.6%, against the government’s 6.5% target.
Mr. Nguyen Thanh Phong, Chairman of the People's Committee of Ho Chi Minh City, assessed that the proportion of domestic revenue in the total budget collection in the period from 2016 to 2020 had increased from 62.1 percent to 71.45 percent.
Director General of the General Statistics Office (GSO) Nguyen Thi Huong has stressed that 2020 is considered a year of success in inflation control.
Because of over-expenditures, the public debts in 2020 are estimated at 56.8-57.4 percent of GDP and the government’s debt 50.8-51.4 percent of GDP, within the safety line set by the National Assembly.
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 pandemic and uncertainties have put pressure on the global economy. However, Vietnam, though facing many risks, is expected to continue growing well.
A problem existed for years between the difference of GRDP (gross regional domestic product) reported by local statistics offices and GDP calculated by the General Statistics Office (GSO).
The Vietnamese economy has remained extremely resilient throughout the year despite the adverse impact of the novel coronavirus (COVID-19) pandemic, with import-export activities witnessing a gradual bounce back, according to insiders.
Hanoi's economic growth is set to rebound to 7.5% next year as the city continues to pursue the dual target of both containing the pandemic and boosting economic recovery.
A new report on Vietnam's macroeconomics and GDP revision has been released by Prof Can Van Luc and researchers from the BIDV Training and Research Institute