The success story in Covid-19 fight could be the key for Vietnam to win trust from the international community, including foreign investors, in the post-Covid-19 period.
Vietnam’s GDP is expected to grow 3% in 2020 while the world economy is expected to contract 4% amidst the biggest global shock of the past decades, World Bank report said.
Despite pandemic Vietnam’s import-export value in 2020 is expected at more than $500 billion, statistics from the General Department of Customs show.
The monetary policy of the Vietnam government is not intended to create an unfair trade, the State Bank of Vietnam said after the Trump administration officially labeled Vietnam as as currency manipulator.
- Vietnam 1Q trade surplus narrows to $2.02 bln vs $2.8 bln 1
- Vietnam credit growth hits 2.93% as of end-March 2
- Vietnam’s Feb. inflation hikes 1.52%, highest in eight years 3
- Southeast Asia's growth leader in 2021 could be Vietnam 4
- Vietnam Jan-Feb FDI inflows fall 15.6% y/y to $5.46 bln 5
- Vietnam’s Jan.-mid-Feb trade surplus hits $3 billion 6
Vietnam’s trade surplus in November significantly narrowed to $546 million from $2.94 billion in October, government customs data released on Monday showed.
ADB has raised Vietnam’s economic growth forecast to 2.3 percent from 1.8 percent thanks to the promotion of public investment, the recovery of domestic consumption, the increase in trade exchanges.
The Government has spent VND17.9 trillion ($780 million) on fighting Covid-19 and supporting people affected by the pandemic, according to the Ministry of Finance.
Vietnam may earn $8.6 billion from exporting aquatic products this year, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam economy has become a shining star during Covid since it has minimized the damages from the crisis and is the only country in South East Asia to report growth this year.
Trade surplus in November plunged to $600 million from a $2.9 billion surplus in October, according to data from General Statistics Office.
The Regional Comprehensive Economic Partnership, which was signed between China and 14 countries, the world's largest trade pact, is seen as a catalyst for Asia to retain growth momentum, HSBC leader said.
The economy’s credit grew 7.26 percent as of November 17, according to Deputy Governor of the State Bank of Vietnam Dao Minh Tu, who talked during a recent conference in Hanoi.
China has become the first country to have a bilateral trade value of $100 billion with Vietnam this year.
Vietnam, one of the world’s fastest-growing economy in 2020, is expected to enjoy 2.4 percent this year, up 0.8 percentage point compared to previous forecast, the International Monetary Fund has said.
Vietnam reported a trade surplus of $19.5 billion in 10-month period, up from $9 billion surplus of the same period in 2019, according to data released by General Department of Customs.
The Regional Comprehensive Economic Partnership will give the Vietnamese economy access to a further one-third of the world’s population and attendant opportunities for export growth.