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What do economists say about economic performance in 2020?

2020 will be a tough year for Vietnam’s businesses

Vu Tien Loc, chair of VCCI

2020 will be a tough year for Vietnam’s businesses because the world economy is slowing down. There are big challenges ahead: the size of the economy is increasing rapidly, but the health of businesses and the economy still matters.



Pham Quang Vinh, former Deputy Minister of Foreign Affairs, former Vietnamese Ambassador to the US

One thing is certain: the world will change forever after the US-China trade war and it will never return to what it was before. There will be a trade agreement between the US and China, and fewer opportunities for small countries will rise up the sooner this happens.

Tran Du Lich, member of the Prime Ministerial Economic Advisory Council

The state pursues the goal of the nation’s development. It doesn’t do business for profit.

The state pursues the goal of the nation’s development. It doesn’t do business for profit.

In the current conditions, three things are needed to assist Vietnam’s businesses to improve their competitiveness – stable macro economy, good legal framework and service-based administration.

Vu Tu Thanh, regional deputy managing director of the US-ASEAN Business Council

There are reasons to place hopes on 2020. This is not my hope, but the hope of the American businesses which I have relations with.

The American business circle, which keeps track of the Party and government’s movements, has every reason to believe that there will be more good news than bad news.

Can Van Luc, chief economist of the Bank for Investment and Development of Vietnam

I think the real estate market is undergoing the ‘filtration’ period, and it is not as pessimistic as some people think. One of the reasons is that the regime and policies still cannot catch up with the development of the market.

Nguyen Tu Anh from the Central Economic Committee

The biggest bottleneck in 2019 was public investment. But the problem has been fixed, so the disbursement will be better in 2020.

Le Hoang Chau, chair of the HCM City Real Estate Association

From the perspective of an association, we regularly make proposals and suggestions to help the government improve the business environment to make it more transparent.

The real estate market is meeting many legal problems, problems in law enforcement and people implementing the laws.

Tran Viet Vinh, CEO of Fiin Credit

The fintech market has been exploding in the last two to three years. Ten to 15 years ago, when the market was in its infancy, there were only a few companies. But later, more and more domestic firms joined the market. It is now the right time to develop the Vietnamese fintech market.

Le Ha 


Vietnam: Fastest-growing digital economy in Asia-Pacific

Vietnam: Fastest-growing digital economy in Asia-Pacific

The digital sector is expected to contribute 30% to Vietnam's economy by 2030.

Private sector must drive economy: academic

Private sector must drive economy: academic

Associate Professor Dinh Trong Thinh of Academy of Finance talks about the important role of the private sector in the national economy.


Michelin Guide to announce first Vietnamese restaurant selections

Hanoi and Ho Chi Minh City have been selected by Michelin as the latest destinations joining the international selection, as compiled by the Michelin Guide.

Ministry to crack down on Internet ads violations

The Ministry of Information and Communications held a conference in Hanoi on November 30 to roll out Internet advertising management measures.

Seven-day Tet holiday fixed for State employees

Officials, civil servants, public employees and workers of State administrative and socio-political organisations will enjoy a seven-day Lunar New Year (Tet) and four-day National Day holidays next year.

Vietnam has opportunity for energy transition towards green growth

Vietnam boasts substantial potential for wind power, particularly offshore wind power, providing an opportunity for the country to fulfill its energy transition target towards green growth.

PM requests combined efforts to combat IUU fishing

Prime Minister Pham Minh Chinh called for concerted efforts to fight illegal, unreported and unregulated (IUU) fishing while chairing a teleconference with 28 coastal provinces and cities on December 1.

Disciplinary measures against a number of leading officials, Party organisations

The Party Central Committee’s Inspection Commission held its 23rd session in Hanoi on November 29-30, during which it proposed disciplinary actions be taken against some leading officials and party organisations.

Big bosses lose billions of dollars

Several businessmen have built a fortune over the last decade, but their ambition of obtaining growth at lightening speed has caused their assets to drop dramatically.

Vietnam Airlines operates special flight on first anniversary of VN-US direct flight

On the occasion of the first anniversary of the non-stop flight between Vietnam and the US, Vietnam Airlines  provided a special flight with surprises for passengers on the evening of November 26.

Industry in need of strategic links

With not everyone in Vietnam’s industrial landscape yet recovering from 2021’s troubles, many groups have no choice but to move from low-cost production to manufacturing higher-value products.

Cherry blossoms attract tourists to Sapa

Cherry blossoms have been in full bloom in the tourist town of Sapa, attracting lots of visitors.

President to pay State visit to RoK next week

President Nguyen Xuan Phuc and his spouse will pay a state visit to the Republic of Korea from December 4-6.

Fansipan among five top destinations for mountain trekking at year-end

Renowned tourism website Women's Weekly of Singapore has named Fansipan among the leading five destinations to visit for mountain trekking at the end of the year, with the website noting the Vietnamese mountain’s impressive views.

Dortmund chiefs predict bright future for VN football

Although this was only a friendly game with many of the German stars absent from the starting eleven due to the Qatar World Cup, the victory gave the Bundesliga team food for thought about Vietnamese players.

International designers dazzle fashion fans in Hanoi

International designers left a deep impression on fans of fashion in Hanoi with hundreds of fascinating designs presented at the Aquafina VN International Fashion Week (AVIFW) Fall/Winter 2022.

Monthly Government meeting focuses on year-end key tasks

The Government has established working groups on liquidity and currency, the real estate market and corporate bonds led by deputy prime ministers to stabilise these markets.