Vietnam's socio-economic development from 2016-2020 made some impressive achievements. GDP growth maintain high at 6.8%, labor productivity increased by an average of 5.8% / year, there was improved investment efficiency with an average ICOR of 6.11, and the macro-economy was strengthened with inflation below 4%.
For 2021-2025, economic growth is forecast to depend on the construction industry and services. The faster transformation of the growth model is gearing towards productivity, quality and efficiency, with the main motivation being science and technology and innovation.
In addition, the participation of new-generation free trade agreements, especially the CPTPP and EVFTA agreements, will have a profound and broad impact on the Vietnamese economy from 2021-2025.
The National Center for Socio-Economic Information and Forecasting says Vietnam's GDP growth rate will reach about 7% per year during the period with inflation at 3.5-4.5% per year. Labor productivity will also improve with an increase of about 6.3% / year.
