The National Centre for Socio-Economic Information and Forecasting (NCIF) has released a forecast on Vietnam’s economic performance in 2021, with GDP growth of 6.72 percent and an average consumer price index (CPI) of 4.2 percent under an optimistic scenario.
Investors are pinning their hopes on different investment channels this year despite the many difficulties and risks brought about by COVID-19, analysts have said.
The Ministry of Agriculture and Rural Development (MARD) is seeking the Prime Minister’s approval for a project on planting at least 1 billion new trees by the end of 2025 for the country’s sustainable growth.
Public investment will focus on key national projects with important roles in enhancing regional links and creating new drivers and room for economic growth, Minister of Planning and Investment Nguyen Chi Dung has said.
The capital city of Hanoi is exerting all-out efforts to disburse 93 percent of 2020 public investment by the end of this month, making it to the top performers in the nation, heard at a meeting on January 20.
The capital city of Hanoi disbursed close to 34.3 trillion VND (nearly 1.49 billion USD) in public investment last year, representing 88.1 percent of the goal set by the government.
In 2021, the Ministry of Planning and Investment (MPI) will continue to proposing specific policies to remove difficulties and supporting COVID-19-hit businesses and people, according to Deputy Minister Tran Quoc Phuong.
Though COVID-19 has sent the global economy into one of its worst recessions ever, Vietnam posted GDP growth of 2.91 percent in 2020 thanks to its solid control of outbreaks and timely support to both enterprises and local people.
The disbursement of public investment was estimated at 398 trillion VND (17.24 billion USD) as of the end of December, meeting 82.8 percent of the Government’s plan – the highest rate in the 2016-20 period, according to the Ministry of Planning and Investment.
The disbursement of State budget capital reached an estimated 91.1 percent of the plan set for the year and rose 34.5 percent year-on-year, the highest rate in the 2011-2020.
Vietnam among very few countries to post GDP growth rate of 2.5-3 percent, and the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement in 2020 when Vietnam assumes ASEAN Chairmanship are among the top 10 domestic economic events in the year.
The disbursement of public investment sourced from foreign loans in localities around Vietnam during January - November increased considerably compared to the first half of the year.
More than 50 percent of this year’s revised plan for public investment sourced from foreign concessional loans and official development assistance (ODA) funds has been left undisbursed as the year’s end approaches, Deputy Minister of Finance Tran Xuan Ha told a Hanoi conference on December 7.
Disbursement of public funds in the first 10 months met 68 percent of the year’s target, nearly 14 percentage points higher than the same period last year.
Ho Chi Minh City had disbursed nearly 23 trillion VND (987.48 million USD) of public investment capital as of September 22, completing 54.2 percent of its yearly target, the Office of the city People’s Committee has reported.
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