Vietnam is showing signs of socio-economic recovery though the COVID-19 pandemic remains complex, according to Francois Painchaud, Regional Resident Representative of the International Monetary Fund (IMF) in the country.
If the COVID-19 pandemic is put under good control in September, the country’s gross domestic product (GDP) growth may reach 3.5-4 percent in the whole year, said Minister of Planning and Investment Nguyen Chi Dung.
Prime Minister Pham Minh Chinh on September 6 chaired a regular Government meeting, focusing on socio-economic performance in August and the first eight months of this year.
Vietnam’s aquatic product exports are likely to rake in 9 billion USD this year thanks to the implementation of new generation free trade agreements, according to experts.
The electronics industry is forecast to have a robust year, driven by the increase in demand for communications’ products due to demand caused by social distancing measures implemented to tackled rising cases of COVID-19, according to the Ministry of Industry and Trade.
The National Assembly on July 26 elected Nguyen Xuan Phuc as State President and Pham Minh Chinh as Prime Minister. People nationwide have pinned their hopes on the country’s new leaders adopting stronger measures against COVID-19 and helping the country record even greater socio-economic achievements.
Industrial and trading activities of Vietnam have sustained their growth trend although the COVID-19 resurgence has hit some provinces and cities with large industrial parks, Deputy Minister of Industry and Trade Do Thang Hai said on June 17.
Following successful sales of lychees, efforts have been made to sell other Vietnamese farm produce on e-commerce platforms, the Nong nghiep Viet Nam (Vietnam Agriculture) newspaper has reported.
The State budget revenue in the first quarter totalled 403.7 trillion VND (about 17.5 billion USD), equivalent to 30.1 percent of this year’s target and up 0.3 percent from a year earlier, the Ministry of Finance (MoF) said on March 29.
Vietnam has shown that there is indeed an effective way to deal with the COVID-19 pandemic, even in the absence of a vaccine that can allow an economy to recover, according to Helge Berger, Assistant Director of the Asia & Pacific Department at the International Monetary Fund (IMF).
Regardless of the Covid-19 pandemic, Vietnam is forecast to be one of the fastest-growing economies in Southeast Asia, according to international organisations.