The Ministry of Planning and Investment (MPI) has predicted that the GDP would grow by 5.96 percent, a 7-year low.
The service sectors of China as well as of Vietnam—including transport, accommodation, tourism, retail, hospitality and entertainment—will be hardest hit by the 2019-nCoV outbreak.
Vietnam’s gross domestic product (GDP) growth is expected to reach 6.25 percent in 2020 if the outbreak of coronavirus disease (COVID-19) is contained within the first quarter of this year, according to the Ministry of Planning and Investment.
Many new policies will take effect in 2020 which aim to warm up the housing market segment for those with real accommodation demand.
Bao Viet Securities (BVSC) predicted that the GDP would grow by 6.5 percent in Q1 2010, or 0.2-0.4 percent lower than the same period last year. The growth will recover in Q2.
By the end of 2025, Vietnam targets to have at least 80% of adults in the country to have bank accounts and the number of non-cash transactions to expand 20 – 25% annually.
Over the last 10 years, Vietnam’s private enterprises have not developed t their great potential.
Building a transparent legal framework; improving business climate; adopting flexible policies on imports, exports and foreign exchange rates; protecting environment will be needed to achieve economic growth target of 6.8%.
Nguyen Tran Nam, chair of the Vietnam Real Estate Association, said the real estate market shows an increasingly important role in the national economy. However, the majority of real estate firms still have small scale and heavily rely on bank loans.
The Vietnam Institute for Economic and Policy Research and the Konrad Adenauer Stiftung today unveiled the Fourth Quarter Update and 2019 Review - Independent Assessment of Vietnam’s Macroeconomic Performance.
Vietnam suffers around 10.8 – 13.2 billion USD worth of economic losses associated with ambient air pollution each year, equivalent to 4.45 – 5.64 percent of the country’s GDP, heard a discussion in Hanoi on January 14.