(VOVWORLD) - Vietnam’s gross domestic product (GDP) grew 7.02% this year. And for the second year Vietnam fulfilled all 12 targets set by the National Assembly, including an export surplus of 9.9 billion USD, registered FDI of 38 billion USD, and small budget deficit, and inflation under 3%.
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Vietnam signed free trade and investment protection agreements with the EU after 9 years of negotiation. The EVFTA and EVIPA, signed in June in Hanoi, were the biggest new-generation trade and investment agreements between the EU and Vietnam. Under the EVFTA both sides have committed to remove almost 100% of tariff lines, the most of nay FTA Vietnam has signed so far. The EVIPA will create a more open environment for investment and trade.
The Politburo adopted a resolution on orientations to perfect institutions and policies to improve the quality and effectiveness of foreign investment cooperation through 2030. The resolution defines Vietnam’s FDI strategic priorities, including projects using advanced technology, modern management models, projects of high added value, and connecting to global production and supply chains.
The 2019 Global Competitiveness Index (GCI), published on October 9 by the World Economic Forum (WEF), showed Vietnam jumping 10 places to 67th in place 2019. This is the first time Vietnam has been in the upper half of the 141 listed economies.
Bamboo Airways joined the aviation market with its first flight from HCMC to Hanoi in January. The domestic aviation market will have more competitors next year. Vinpearl Air, Vietravel Airlines, Vietstar, and Kite Airlines are poised to begin operating commercial flights. And more enterprises are now offering human resource training for the aviation sector.
Those were Vietnam’s biggest economic events in 2019.