(VOVWORLD) - Although the fourth wave of the COVID-19 pandemic has taken a great toll on Vietnam’s economy, economists say FDI enterprises have confidence in Vietnam’s economic prospects.
 Dorsati Madani, Senior Economist at the World Bank Viet Nam (Photo: VGP) |
Dorsati Madani, Senior Economist at the World Bank Viet Nam, attributes this confidence to a number of factors. Vietnam reported modest growth while the majority of economies around the world were in an economic recession, validating the solid fundamentals of Vietnam’s economy that underlie its resilience and growth.
Before the fourth wave arrived, Vietnam had experienced robust economic growth in the first half. The World Bank is seeing increasing investment by FDI enterprises in Vietnam despite the economic setbacks of the third quarter, Madani said, adding that the World Bank appreciates Vietnam’s concerted efforts to keep the virus at bay while transitioning from a “Zero COVID” strategy to co-existing safely with the coronavirus.
According to Nguyen Minh Cuong, Principal Country Economist at the Asian Development Bank (ADB), Vietnam’s improved business climate makes it an attractive destination for FDI investors in the long run. They are encouraged to continue investing in Vietnam by the government’s strong commitment to containing the pandemic, supporting businesses, and reviving economic activity, he said.