Vietnam’s GDP growth to expand by 7 pct in 2021: AMRO report
Vietnam’s GDP growth is expected to rebound to 7 percent in 2021, driven by a recovery in goods and service export, resilient domestic economy, and healthy investment inflows, according to the ASEAN 3 Macroeconomic Research Office (AMRO).
At a textile company in Ha Nam province (Photo: VNA)Hanoi (VNA) - Vietnam’s GDP growth is expected to rebound to 7 percent in 2021, driven by a recovery in goods and service export, resilient domestic economy, and healthy investment inflows, according to the ASEAN 3 Macroeconomic Research Office (AMRO).
In its Annual Consultation Report on Vietnam published on May 19, which was produced based on AMRO’s virtual 2020 Annual Consultation Visit to Vietnam and data and information available up to February 11, 2021, the office said Vietnam’s manufacturing output continued to expand thanks to robust exports and positive spillover from global supply chain restructuring.
The economic recovery is expected to continue on the back of an increase in domestic consumption following the relaxation of mobility restrictions, and an acceleration in public investment disbursement, it noted.
The report said continued policy support of the Government remains essential to bolster national economic recovery.
Effective food supply chain management and stable fuel prices will help the Vietnamese government keep inflation below 4 percent in 2021, the report stressed.
Vietnam needs to step up its efforts to develop domestic supporting industries in order to strengthen its participation and increase its value-add in the global value chains.
The ASEAN 3 Macroeconomic Research Office (AMRO) is an international organisation established to contribute towards securing macroeconomic and financial stability of the ASEAN 3 region, comprising 10 ASEAN member nations, China, Hong Kong (China), Japan and the Republic of Korea.
The Annual Consultation Report was prepared in fulfillment of AMRO’s mandate. The organisation is committed to monitoring, analysing and reporting to its members on their macroeconomic status and financial soundness./.
You should also see
PM visits police command centre, checks cultural centre construction in Phu Tho
Prime Minister Pham Minh Chinh visited the command and control centre of the Phu Tho police and examined the construction of this northern province’s house of culture and arts on April 18.
See more
World
ASEAN culture promoted in Mexico
Typical and diversified culture of ASEAN countries is being promoted at the ongoing ASEAN Week at the headquarters of Mexico’s Chamber of Deputies in Mexico city from April 15-19.
World
Thailand, New Zealand agree to elevate ties to strategic partnership
Thailand and New Zealand on April 17 agreed to upgrade bilateral ties to a strategic partnership by 2026, on the occasion of the 70th anniversary of bilateral diplomatic ties.
World
Japan’s 2024 Diplomatic Bluebook sketches out cooperation orientation with ASEAN
The Foreign Ministry of Japan on April 16 announced its 2024 Diplomatic Bluebook, which clarifies the country's orientations to expand relations with the Association of Southeast Asian Nations (ASEAN) in general and Vietnam in particular.
World
Indonesia’s Ruang volcano erupts, hundreds evacuated
At least 800 people in Indonesia’s North Sulawesi province have been evacuated after the area’s Ruang volcano has spewed lava and ash clouds into the sky for days, Indonesia’s volcanology agency said on April 17.
World
Bangkok markets join food waste reduction drive
Nearly 200 fresh markets in Bangkok have joined a Bangkok Metropolitan Administration (BMA) campaign to classify food scraps from other waste, which helps reduce carbon emissions by about 142.5 tonnes per day.
