If the Vietnamese economy is able to successfully enjoy a rapid economic recovery following the conclusion of the novel coronavirus (COVID-19) pandemic, the retail industry will be one of the driving factors in this revival process.

Vietnam has been hit hard by the current novel coronavirus pandemic (COVID-19), but it will show signs of recovery in the post-coronavirus period, the World Bank said in its Vietnam Macro Monitoring report for May.

Its economy shrank 6.8% in the first three months of 2020 as it battled the virus and lockdowns

While Vietnam remains significantly exposed to the COVID-19 outbreak and the ongoing turbulence in the global financial markets, its economy stays resilient to external shocks in the first few months of 2020, according to the World Bank (WB).

According to Hoang Duong Tung, chair of the Vietnam Clean Air Network, former deputy general director of the General Directorate of Environment, PM 2.5 fine dust and ozone are the two most worrying issues.

A leader of Ho Chi Minh City on January 17 expressed his hope that the World Bank (WB) will assist Vietnam’s southern economic hub to build an international financial centre.

On January 15, the WB and Ministry of Finance signed a financing agreement for a grant worth US$10.5 million to promote integrated urban development and transport connectivity along a new Bus Rapid Transit corridor in HCM City.

In the 2021-2030 period, Vietnam aims to prevent pollution and environmental degradation, and gradually improve environmental quality.

National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan on November 21 appreciated the World Bank (WB)’s comprehensive cooperation with Vietnam and its contributions to the country’s development in recent times.

Vietnam has made significant improvements in getting credit and paying taxes, resulting in increases of 5 and 6.1 points against last year’s results.

Vietnam’s growth is exceeding expectations, prompting economists and researchers to revise forecasts for the nation in the near term, while remaining cautious due to fears of a global economic recession.

Japanese and South Korean are running a race to pour capital into Vietnam’s logistics industry.

Prime Minister Nguyen Xuan Phuc received Philippe Le Houerou, CEO of the International Finance Corporation (IFC) – a member of the World Bank (WB) Group, in Hanoi on August 15.

JICA and WB on August 7 jointly launched a knowledge-sharing programme to assist policymakers in Vietnam with developing new models of care services for the elderly as Vietnam’s population is aging at a pace faster than any of its regional peers.

Warning about the increasingly high amount of plastic waste and the serious environmental consequences, the Ministry of Natural Resources and Environment will propose a tax on plastic packaging to limit production and consumption.

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.

VietNamNet Bridge - International institutions have predicted high GDP growth rates for Vietnam in 2019, but do not expect them to be more than 7 percent.

Hai Phong needs VND3.5 trillion to develop logistics by 2020, MoF urges PVN to accelerate divestment in sensitive sectors, FLC proposes new airline catering service processing area, WB, Binh Duong discuss infrastructure cooperation

 VietNamNet Bridge – The World Bank is willing to work with Vietnam in infrastructure development and wants to share Vietnam’s experience with other countries in this sphere, 

VietNamNet Bridge - While giving different predictions about Vietnam’s GDP growth rate in 2019, institutions all agree that Vietnam will have to face high risks in the time to come.