Vietnam has sufficient conditions to achieve the twin targets of curbing the COVID-19 pandemic and securing economic growth in 2021, according to Country Director of the Asian Development Bank (ADB) Andrew Jeffries.
A view of Cat Lai Port in Ho Chi Minh City (Photo: VNA)
– Vietnam has sufficient
conditions to achieve the twin targets of curbing the COVID-19 pandemic and
securing economic growth in 2021, according to Country Director of the Asian
Development Bank (ADB) Andrew Jeffries.
Talking to the Vietnam News Agency about the
recovery capability of Vietnam’s economy amid the fourth wave of COVID-19
infections, he expressed his optimism about the country’s economic outlook,
given the positive economic statistics recorded in April and May.
In the first five months of 2021, the Vietnamese
economy continued to post encouraging signs in export, foreign investment
attraction, FDI disbursement, and retail sales.
However, Jeffries also pointed out that risks
have appeared when the pandemic resurged in April while the implementation of
the COVID-19 vaccination plan has been delayed.
He noted that the ongoing fourth wave of
infections has affected not only big cities like Hanoi and Ho Chi Minh City but
also industrial parks in Bac Giang and Bac Ninh provinces, which are the
locations of manufacturing activities by many important links in the
electronics supply chain.
To realise the target of becoming an
upper-middle-income country by 2030, Vietnam needs to sustain an annual
economic growth rate of over 7 percent, the ADB official remarked.
The first and foremost condition to obtain such
growth is that the private sector in the industry and services sectors must
operate dynamically, he said, calling for conditions to be created for them to
access financial, land, and technological sources and enhance corporate
ADB Country Director for Vietnam Andrew Jeffries (Photo: VNA)
It is also necessary to rationalise business
procedures for private firms and prioritise digital transformation, according
Jeffries noted that Vietnam’s economic growth
and development outlook is closely associated with the capability to curb the
spread of the coronavirus.
The successful containment of the pandemic is
the decisive factor in the 2021 growth, he went on, expressing his belief that
the Vietnamese Government and people will be able to control the pandemic
thanks to the important experiences gained from the previous outbreaks.
During the interview, the ADB Country Director
said the current wave of COVID-19 infections with new variants has been handled
effectively by the Government and now almost under control. Therefore, Vietnam
is completely capable of realising the twin targets of curbing the pandemic and
gaining economic growth this year.
However, he also warned that unexpected
outbreaks could continue to happen and impact part of the workforce, especially
in industrial parks.
The only way to help push back the pandemic,
ensure long-term safety for people, and create conditions for economic
development is to step up COVID-19 vaccination, he added./.