Da Nang's 1H economy contracts 3.61 percent, first time in two ...
Da Nang’s economy shrank by 3.61 percent in the first half, its first contraction in the 23 years since it became a central-level city.
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A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said UBS Research.
Vietnam’s banking sector recorded 3.26 percent credit growth in the first six months of 2020 thanks to recovery in May, State Bank of Vietnam Governor Le Minh Hung told Thursday cabinet meeting.
Ho Chi Minh City, the development driving force of the country, has reported growth at 1.02 percent in the first half of this year, according to data from the Department of Statistics.
Da Nang’s economy shrank by 3.61 percent in the first half, its first contraction in the 23 years since it became a central-level city.
Vietnam’s economy is expected to recover in the second half of this year to 3%, from 2.8% previously since the country appears to have contained the Covid-19 outbreak domestically.
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