The cooperation framework would support mobilizing capital from the private sector and developing financial markets for infrastructure development, in turn helping Vietnam realize its priorities in the field in near future, said a Vietnamese vice finance minister.
An upgrade is unlikely, given the review for downgrade.
The package, which is specified in a draft decree, is set to become effective immediately upon the approval of Prime Minister Nguyen Xuan Phuc.
In 2020, raising public investment disbursement is the only way to lessen the pain of economic growth.
A change in the epicenter of the pandemic from China to the US and Europe is causing greater impacts on Vietnam’s economy.
Local airlines could see a decline in revenue of up to VND65 trillion (US$2.7billion) due to the pandemic, much higher than an earlier estimate of VND30 trillion (US$1.27 billion).
Many retailers in phone and electronics segments focus on developing online channels to survive during the coronavirus pandemic period.
As impacts of the Covid-19 pandemic are growing, the figure represents a six-fold increase from the initial proposal of VND30 trillion (US$1.27 billion).
Domestic electronic production could be among industrial sectors that face major challenges in the coming quarters as major export markets are struggling with the pandemic.
Vietnam's headline inflation averaged 5.6% year-on-year in the first quarter, but has been gradually decreasing since last December.
Once Vietnam's parliament ratifies the trade deal, it can enter into force 30 days after Vietnam and the EU have notified each other that legal procedures have been completed.
If the pandemic is contained within the first half of 2020, Vietnam's growth should rebound to 6.8% in 2021 and remain strong over the medium and long-term, according to ADB.
Prospects of foreign investment will dim in 2020, given the impact of the coronavirus outbreak on investment sentiment globally, and this will make it more difficult for Vietnamese banks to raise external capital.
Rural areas witnessed the same picture in Vietnam’s four cities with FMCG slowdown in the first two months against the same period of last year, according to Kantar Worldpanel.