Vietnam's growth accelerated to 4.5 percent in the last quarter of 2020, resulting in an annual growth rate of 2.9 percent - making it one of the fastest growing economies in the world, according to the World Bank (WB).
Vietnam's growth accelerated to 4.5 percent in the last quarter of 2020, resulting in an annual growth rate of 2.9 percent - making it one of the fastest growing economies in the world, according to the World Bank (WB).
Despite being the lowest in the past three decades, Vietnam’s 2.91 percent growth recorded this year is still a success of the nation in the context of the COVID-19 pandemic that is ravaging the whole world, according to foreign media.
Moody's Analytics, a unit of Moody’s Corporation, has forecast Vietnam, together with China and Hong Kong (China), would see the fastest growth in 2021, thus making the Asia-Pacific region lead the global recovery from the COVID-19 pandemic.
Consumer goods, health care, energy, construction materials, infrastructure, and technology are among the sectors with enormous potential for investment in Vietnam once the COVID-19 pandemic subsides, an expert has said.
The Philippine economy is likely to experience the first annual contraction in more than two decades this year due to the COVID-19 pandemic before it pulls back up for a U-shaped recovery in 2021.
The Vietnamese economy may decelerate significantly this year due to impacts of the COVID-19 pandemic but economic growth is projected to remain of one the highest in the region, according to the Asian Development Bank.
The Singapore-based Chinese-language newspaper Lianhe Zaobao newspaper (United Morning Paper) ran an article on November 26 on Vietnam’s foreign direct investment (FDI) attraction, affirming that it is one of the most open economies with the fastest economic growing pace in Asia.
The Vietnamese government’s commitment to broad-based economic reforms bodes well for the country’s longer term prospects and look to have it on the path to upper middle-income status, held Khoon Goh, head of Asia Research at Australia and New Zealand Banking Group Limited (ANZ).
While growth is set to ease in 2019, Vietnam will still be among the top 10 fastest-growing economies globally, according to a report recently released by the Institute of Chartered Accountants
While growth is set to ease in 2019, Vietnam will still be among the top 10 fastest-growing economies globally, according to the “Economic Insight: South-East Asia” report recently released by the Institute of Chartered Accountants in England and Wales (ICAEW).
“In Style – Hong Kong”, the largest trade, investment and lifestyle promotion event ever held in Vietnam, kicked off in Ho Chi Minh City on September 20, attracting thousands of Vietnamese and Hong Kong firms.
US President Donald Trump praised Vietnam as one of the fastest-growing in the world in a keynote speech delivered at the APEC CEO Summit in the central city of Da Nang on November 10.
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