The Vietnamese economy will likely expand by 4.5-5.1% this year if the pandemic is contained at home by the end of September and vaccination is accelerated towards herd immunity in the second quarter of 2022.
The National Assembly on Tuesday adopted a resolution on the socio-economic development plan for the 2021-2025 period, targeting an average growth rate of 6.5-7% over the period.
Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.
Despite lower-than-expected economic growth for the first six months of 2021, the government has decided not to adjust its growth target for the entire year, while pinning high hopes on an global economic recovery given the domestic economy remaining quite open to international trade, and also on its pro-business policies inspiring the business community.
Vietnamese economy grew 5.64 percent in the first six months this year despite the fourth COVID-19 wave which broke out on April 27, according to the General Statistics Office.
The World Bank (WB) is a very important development partner, which always supports and actively contributes to Vietnam’s socio-economic development, Prime Minister Pham Minh Chinh has said.
After the fourth wave of COVID-19 emerged, some organizations lowered their growth forecasts for Vietnam. Before the ongoing COVID-19 outbreak, Oxford Economics, IMF, World Bank and HSBC forecast Vietnam's economy to grow by 6.6-6.8% this year. At present, their forecasts have been revised down.
Macroeconomic stability, controlled inflation, the 5-month consumer price index (CPI) growth of 1.29% - lowest since 2016, created room for price management targeted at CPI growth of less than 4%, said Minister of Planning and Investment Nguyen Chi Dung at the 57th Meeting of the National Assembly Standing Committee on June 15, 2021.
Although a resurgence of Covid-19 cases and reimplementation of restrictions across the region is expected to affect the near-term outlook, South-East Asia’s GDP is set to return to growth in 2021, a new report has predicted.
Universal Robots (UR), Denmark-based collaborative robots (cobots) technology market leader, has advised Vietnam’s manufacturing industry leaders to implement cobots as an effective solution to address skills and labour shortage as well as achieve higher productivity.
Vietnam’s drivers of growth are relatively clear and strongly leading. Digital transformation is particularly seen as an opportunity to improve labor productivity and expand service and product distribution networks...
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