Vietnam’s macroeconomic stability secured despite pandemic

(VOVWORLD) - Vietnam has maintained macroeconomic stability since the beginning of the year despite COVID-19, according to lawmakers. 

Vietnam’s macroeconomic stability secured despite pandemic  - ảnh 1

(Photo: VOV)

The ongoing year-end National Assembly learned on Tuesday that Vietnam enjoyed trade surplus of 17 billion USD and attracted 21 billion USD in foreign direct investment in the first 9 months of the year. Foreign reserve hit nearly 100 billion USD.

The IMF forecast that Vietnam will likely become the 4th biggest economy in ASEAN this year. While many economies contracted, Vietnam’s GDP is expected to expand between 2% and 3%.

“Priority should be given to capital provision, improving human resource training and the business climate, stimulating post-COVID tourism, and ensuring social welfare. A projected GDP growth of between 6% and 6.5% for the 2021-2025 period is challenging but is feasible as the global economy recovers,” said Deputy Nguyen Van Chien of Hanoi.

Lawmakers pointed out other bright spots such as administrative reform and the effectiveness of a facilitating Government. 

“Vietnam is extensively integrating into the global community with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement," said Deputy Vu Tien Loc of Thai Binh province.

"The agreements help expand markets for Vietnam and promote institutional reform in line with the highest international standards. Vietnam has become a safe destination for the building of safer and more responsible global supply chains,” he said.

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