Vietnam must consistently invest a larger share of national income if it is to achieve the targets set out in the ten-year development strategy of achieving upper middle-income status by 2030 and high-income status by 2045, while coping with formidable challenges of COVID-19, according to Professor Jonathan Pincus, UNDP Senior International Economist.
Vietnam’s economic growth in the first quarter is estimated at 4.48%, higher than the 3.68% posted in the first quarter of last year. However, there is still much to be done to reach the annual target of 6.5%, according to insiders.
Vietnam seems to be an only bright spot in Asia, which ably balanced public health and economics right from the onset of the COVID-19 pandemic, according to Manila Times of the Philippines.
Vietnam’s effective containment of COVID-19 should allow it to make a quicker rebound than most other economies in the region and its GDP growth can be around 2.3 percent this year, Sian Fenner, an economist from Oxford Economics wrote in a July 14 report.
Vietnam's private consumption growth will remain strong, supported by improvements in the labour market as youth unemployment falls, minimum wages grow and lower inflation levels prevail, experts forecast.
US Ambassador to Vietnam Daniel Kritenbrink highlighted Vietnam’s effort in promoting its integration into the international market at a workshop held by the American Chamber of Commerce (Amcham) in Ho Chi Minh City on December 7.
The Japanese Diet on June 13 enacted a law to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), moving a step closer to complete domestic procedures, according to Kyodo news.
Vietnam’s economy could grow by 7.02 percent in 2018 under a high growth rate scenario, according to the National Center for Socio-Economic Information and Forecast (NCIF).
Vietnam has seen strong economic growth in the past three decades, second only to China, and this has opened up great opportunities for foreign firms, including those from the UK, to boost investment in the country.
Vietnam’s economy will continue the recovery trend with a GDP growth forecast at 7.1-7.3 percent in the fourth quarter of this year, according to the General Statistics Office.
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