President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, in his opening remarks at the Forum, lauded Vietnam’s measures to contain the virus and socio-economic support packages, which have proven effective in shoring up the economy.  

“Along with fiscal and credit support, the Government’s initiatives to renew institutions, simplify administrative procedures, remove bottlenecks in the market, and improve the business climate have spurred development. Numerous development projects will get underway next year,” said Loc.

Despite a gloomy outlook for the global economy due to the pandemic, the Asian Development Bank forecasts the Vietnamese economy will grow 2.8% in 2020 and 6.3% in 2021. Vietnam has fared better economically than most other economies, according to the Asian Development Outlook 2020, which sees good prospects for the Vietnamese economy in the mid- and long-term.