Anticipating that it is very difficult to completely control the Covid-19 epidemic in the short term, Vietnam should carefully consider and prepare for reopening the economy and live with the epidemic in the coming time.
The COVID-19 crisis has accelerated the digital transformation of the Vietnamese economy as more businesses in Vietnam are providing online services. The government is also stepping up the digitization of procedures and databases.
Vietnam’s GDP is expected to expand by about 4.8% in 2021 despite its robust economic performance in the first half of this year. This forecast, two percentage points lower than the projection in December 2020, accounts for the negative impacts of the ongoing COVID-19 wave.
According to the World Bank (WB), Vietnam's 35-year development is admirable. In 2002-2018, Vietnam's per capita GDP increased by 2.7 times, reaching over US$2,700 in 2019. Besides, more than 45 million Vietnamese people escaped poverty, with the poverty rate sliding sharply from more than 70% to less than 6%.
Vietnam and India are emerging as economic powers in the region that will make a difference in the post-pandemic times, The Economic Times cited Indian Ambassador to Vietnam Pranay Verma as saying.
The Vietnamese economy will likely expand by 4.5-5.1% this year if the pandemic is contained at home by the end of September and vaccination is accelerated towards herd immunity in the second quarter of 2022.
The National Assembly on Tuesday adopted a resolution on the socio-economic development plan for the 2021-2025 period, targeting an average growth rate of 6.5-7% over the period.
Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.
Despite lower-than-expected economic growth for the first six months of 2021, the government has decided not to adjust its growth target for the entire year, while pinning high hopes on an global economic recovery given the domestic economy remaining quite open to international trade, and also on its pro-business policies inspiring the business community.
Vietnamese economy grew 5.64 percent in the first six months this year despite the fourth COVID-19 wave which broke out on April 27, according to the General Statistics Office.
The World Bank (WB) is a very important development partner, which always supports and actively contributes to Vietnam’s socio-economic development, Prime Minister Pham Minh Chinh has said.
9/17/2021 10:09:14 AM
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Vietnamese
Hanoi, Vietnam
