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BUSINESS REPORT

SUCCESS REFLECTED

BY GROWTH

Economists and analysts at a recent VET forum discussed
the state of Vietnam’s economy and how this year may look.
T HONG NHUNG reportS

ith the Covid-19 situation remain- Scenario Forum entitled “Shaping Investment ment, and higher exports to the EU and
ing unpredictable all over the - Business Strategies in a New Context” held ASEAN. “The world will continue to experi-
W world along with rising global last month in Ho Chi Minh City by Vietnam ence trade tensions and uncertainty caused
uncertainty and trade tensions, Vietnam’s Economic Times. by the pandemic, but Vietnam has already
rapid and strong economic growth has been prepared various scenarios for economic
brought to a screeching halt. The pandemic Positive scenarios growth,” he said.
is set to continue disrupting trade, supply Vietnam is one of only a few countries to The strong growth posted last year will
chains, consumer demand, and travel, among record positive growth for 2020, of 2.91 per be followed by 6.8 per cent this year, according
many other matters. Despite an overall year- cent, and is well-positioned to see a wave of to the Asian Development Bank (ADB). The
on-year decline, however, Vietnam’s economic economic recovery this year. Mr. Nguyen government has set a target of 6.5 per cent,
performance exhibited definite signs of recov- Xuan Thanh, a member of the Prime Minister’s but the IMF and World Bank are even more
ery and posted positive growth, and its Economic Advisory Group, told the forum optimistic, predicting 6.7 per cent, while
prospects in 2021 are now viewed optimisti- that the economy will be driven this year by international banks expect between 6.8 and
cally, experts told the 2021 Vietnam Economic the domestic market, a boost in private invest- 7 per cent, based on Vietnam’s ongoing macro-

26 | VIETNAM ECONOMIC TIMES | FEBRUARY 2021