After the fourth wave of COVID-19 emerged, some organizations lowered their growth forecasts for Vietnam. Before the ongoing COVID-19 outbreak, Oxford Economics, IMF, World Bank and HSBC forecast Vietnam's economy to grow by 6.6-6.8% this year. At present, their forecasts have been revised down.
Macroeconomic stability, controlled inflation, the 5-month consumer price index (CPI) growth of 1.29% - lowest since 2016, created room for price management targeted at CPI growth of less than 4%, said Minister of Planning and Investment Nguyen Chi Dung at the 57th Meeting of the National Assembly Standing Committee on June 15, 2021.
Although a resurgence of Covid-19 cases and reimplementation of restrictions across the region is expected to affect the near-term outlook, South-East Asia’s GDP is set to return to growth in 2021, a new report has predicted.
Universal Robots (UR), Denmark-based collaborative robots (cobots) technology market leader, has advised Vietnam’s manufacturing industry leaders to implement cobots as an effective solution to address skills and labour shortage as well as achieve higher productivity.
Vietnam’s drivers of growth are relatively clear and strongly leading. Digital transformation is particularly seen as an opportunity to improve labor productivity and expand service and product distribution networks...
Vietnam’s economic growth is expected to rebound to 6.7% this year, despite the recent resurgence of the COVID-19 pandemic in nearby countries, and rise to 7% in 2022, said Andrew Jeffries, ADB Country Director for Vietnam, at an event releasing the latest Asian Development Outlook (ADO 2021) in Hanoi.
Vietnam is striving to have 70 - 90% of waste sources in key industrial sectors analyzed by 2025.
In April 2021, Vietnam witnessed an increase of roughly 24.1% year on year in industrial production; new corporate establishments and State funds disbursement hit multi-year highs; import and export value expanded at a 10 year high; and business confidence picked up, according to the latest data released by the General Statistics Office (GSO).
Fostering economic recovery and conducting institutional reform amid the complicated development of Covid-19 pandemic will help Vietnam's economy recover faster and more sustainably.
As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, instalment plans, cryptocurrencies, biometrics and others, in the coming year.
Vietnam’s exports are expected to perform strongly in 2021, though they face the risks of slackening international demand, said World Bank Vietnam in its recent report on Vietnam’s economy.
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