Weekly Vietnam Economy News (8 – 15/10, 2020)
In this article, we will provide new information about Vietnam Economy.
Vietnam becomes a magnet to attract foreign investment by 2021: policymakers
According to policymakers, Vietnam will be among the world’s top destinations for foreign direct investment (FDI) by 2021 thanks to Vietnam’s efforts to prevent and combat the COVID-19 pandemic.
A highly skilled workforce and political and economic stability are among the country’s most important advantages in attracting foreign investors, especially as the global economy struggling to recover from the pandemic.
Meanwhile, Vietnam has continuously improved its industrial infrastructure by boosting the construction of industrial zones and economic zones. By the end of September, there were 366 industrial parks nationwide, where there were more than 10,000 projects reaching nearly 200 billion USD of total investment value.
At the same time, Vietnam plans to invest in the workforce, develop supporting industries, and improve business laws and regulations to create the best environment for foreign investors.
Vietnam’s economic development opportunities and should not be overlooked.
Vietnam is a bright spot in the midst of the COVID-19 pandemic. While the world economy is dark but the country is still bright and stable, this is a great opportunity for growth.
According to VARS statistics, there are 216 real estate projects with tourism infrastructure systems in 10 provinces, with 83,000 condotel apartments, 30,000 villas and shophouses, and 12,000 hotel rooms.
According to calculations, to develop the tourism economy to 2025, the tourism industry welcomes 120 million domestic tourists and 35 million international visitors.
Vietnam economy will grow by 7.1% in 2021
Experts forecast that Vietnam’s economy will grow 4% in the previous quarter and 2.8% in the whole of 2020.
Vietnam’s economy will grow by 71% by 2021
K-shaped restoration: A world of difference
2020 is still a recession year but given the better-than-expected overall economic data than the March / April bottom, pessimism a few months ago gave way to a less bad outlook. But signs of stability in the global economy cannot be taken for granted as the path to recovery is still very uncertain and depends on the risks of any booming COVID-19 outbreak. In the fourth quarter, the financial stimulus “cliff” is another risk unless governments extend their help measures to businesses and households.
One game-changing factor for the outlook is that COVID-19 vaccine development is doing well, and the reported base case is an effective mid-2021, although this still exists. the possibility of failure.
Compiled from many sources by LOOKOFFICE
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