Vietnam’s foreign policy of multilateralisation and diversification of external relations has contributed to enhancing the country’s position in the region and the world, foreign experts said.
Vietnam continues to be one of the fastest growing economies in the world, said David Jarkulisch, a diplomat from the Embassy of the Czech Republic in Hanoi.
Vietnam’s 2021 GDP growth is projected at 5.49 percent in the normal scenario, 6.9 percent if the current situation gets better, and 3.48 percent in the worst-case scenario, according to the Vietnam Institute of Economics under the Vietnam Academy of Social Sciences (VASS).
Vietnam’s prospects appear positive as the economy is projected to grow by about 6.8 percent in 2021 and, thereafter, stabilise at around 6.5 percent, according to the latest World Bank’s economic update for Vietnam “Taking Stock”.
Foreign experts have recommended numerous priority measures, with public-private partnerships and public health priorities considered a key to the quick recovery of Vietnam’s tourism sector after the COVID-19 pandemic.
Domestic businesses should equip themselves with necessary knowledge in order to tap opportunities from the Regional Comprehensive Economic Partnership (RCEP), advised experts.
Indonesian President Joko Widodo has voiced his belief that the acceleration of digital transformation of micro-, small- and medium-sized enterprises (MSMEs) will encourage the revival of the regional economy.
As digital transformation was vital for the development of Vietnam’s economy, local businesses had no other choice than joining to benefit from the trend, a top economics journalist has said.
The implementation of priorities and initiatives proposed by Vietnam as Chair of ASEAN 2020 to the ASEAN Economic Community (AEC) was reviewed at the 19th AEC Council Meeting held virtually on November 10.
Prime Minister Nguyen Xuan Phuc has suggested lifting two-way trade between Vietnam and the Republic of Korea (RoK) to 100 billion USD from 68 billion USD in 2019.
A workshop was held in Hanoi on October 27 to discuss trade remedies - a tool to protect the interests of domestic production industries amid Vietnam’s ongoing integration into the world economy.
Vietnam has missed some economic development opportunities and should not ignore the chance to grow the night-time economy, according to economist Tran Dinh Thien.
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.
The COVID-19 pandemic has crippled the global economy and travel companies are among the worst hit. Vietnamese travel companies are adjusting their business strategies and promoting digital transformation to recover and grow.
The Ministry of Industry and Trade (MoIT) on August 24 said it has selected 268 prestigious exporters for 2019 from nominations made by 55 relevant ministries, industry associations and local departments of industry and trade.
Vietnam has been a highly responsible and enthusiastic member of ASEAN in the past 25 years since its membership of the bloc, Dr. Munir Majid, Chairman of ASEAN Business Advisory Council Malaysia (ASEAN-BAC Malaysia) has said.
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