A corner of Ho Chi Minh City (Illustrative photo: VNA) In the article, theauthor cited data from the World Bank as saying that the country’s gross domestic product (GDP) grew by 7 percentin 2019, similar to 2018, one of the fastest growth rates in the region.
It is argued thatif Vietnam can maintain a 7 percent increase in economic growth over the nextdecade, the country will follow the same trajectory as the previous "AsianTigers,” according to the article.
International tradewas also progressively liberalised, with the signing of various free tradeagreements, it said, adding that the World Bank now considers Vietnam one of the most dynamic emergingcountries in East Asia.
Vietnam respondedquickly and effectively to the pandemic, and its successesagainst COVID-19 have been acknowledged, it noted, attributingthat keys toVietnam’s success have been strategic testing, aggressivecontact tracing and effective public communications campaigns which pushedclear and science-based messages to the population.
Vietnam is among afew countries set to register positive economic growth for the year 2020.According to the International Monetary Fund (IMF)’s WorldEconomic Outlook Update for October, the global economy was projected to shrink by 4.4 percent last year over COVID-19. In thesame report, IMF forecast 1.6 percent growth for Vietnam, it said./.
VNA
