Vietnamplus

The Vietnam Textile & Apparel Association sets an export target of 55 billion USD for the sector for 2025.

Speeding up the disbursement of public investment from the start of this year was an important solution to accelerate economic recovery amid the COVID-19 pandemic, Minister of Finance Dinh Tien Dung has said.

The US independent management consultancy Asia Perspective has published a report on the Vietnamese economy, which highlighted that in the fourth quarter of 2020, Vietnam posted rapid growth thanks to the recovery of manufacturing.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) was 51.3 in January, down from 51.7 in December, to signal a softer improvement in business conditions at the start of 2021.

Oversea Vietnamese (OVs) living in New York, the US, has expressed belief that the 13th National Congress of the Communist Party of Vietnam will set out judicious decisions to continue boost Vietnam’s development in the future.

Foreign reporters who could not come to Vietnam to cover the 13th National Congress of the Communist Party of Vietnam (CPV) due to the COVID-19 pandemic have praised the country’s initiative to allow their online coverage.

Egyptian newspapers have published articles lauding Vietnam’s outstanding accomplishments in recent years, especially as the 13th National Congress of the Communist Party of Vietnam (CPV) is on the horizon.

“Doi Moi” (Renewal) policy, launched during the sixth National Party Congress in 1986, has helped Vietnam record remarkable, comprehensive and historical achievements, with a high economic growth, people’s better living conditions and stable socio-political situation, expanded foreign relations and enhanced international prestige.

There is still significant room for stronger reforms to create a more favourable business environment and make Vietnam among countries with the best business environment in ASEAN, according to the Vietnam Chamber of Commerce and Industry (VCCI).

Vietnam has emerged as an economic bright spot with a growth rate of 2.91 percent in 2020, which is attributable to the country’s efforts in containing COVID-19 and timely support policies to people and businesses, international organisations said.

Vietnam posted the fastest growth in Asia in 2020 and will once again be among the most outstanding performers in the region this year, according to the Hong Kong Shanghai Banking Corporation (HSBC).

The COVID-19 situation has considerably sped up the transition of manufacturing work into Vietnam and the country is uniquely positioned to take advantage of this move, said an article recently published on SeekingAlpha content service.

German daily newspaper Junge Welt (Young World) recently published an article noting that life in Vietnam has returned to normalcy, with economic growth being carried primarily by domestic demand and higher government investments.

Vietnam has been depicted by foreign media as a bright spot among Asian economies thanks to the country’s success in balancing the efforts to protect the public health and maintain economic growth right from the beginning of the COVID-19 pandemic outbreak.

Vietnam is projected to be one of the economies posting big gains in the world’s per-capita income rankings during the quarter-century through 2025, according to data analysed by Bloomberg.

Vietnam’s 2021 economic outlook depends on the domestic and global COVID-19 situation, but growth of 6 percent is an achievable target for next year, a lawmaker has said.

The Vietnam Institute for Economic and Policy Research (VEPR) estimated local GDP growth for this year at between 2.6 percent and 2.8 percent at a workshop in Hanoi, lower than the 3.8 percent it forecast in July.

The domestic automobile industry was forecast to thrive, given the Government’s supports in tax policies for imported automobile components coupled with the increasing income of citizens, according to a report by the Viet Dragon Securities Corporation (VDSC).

With more positive developments in the world economy and the rapid recovery of China, the Vietnamese economy has foundations to hope for a strong economic recovery in the future, according to Duong Manh Hung, Director of the General Statistic Office (GSO)’s National Accounts Department.

Vietnam records trade surplus of approximately 17 billion USD in the first 9 months of 2020.