Gdp Growth

The nationwide distancing order in the first 15 days of April was one of the key factors leading to GDP growth in the second quarter at just 0.36% year-on-year.

Priorities would be to avoid any disruption to the economy and a negative growth scenario as Vietnam’s major economic partners face severe impacts from the pandemic.

HSBC economists forecast GDP expansion of 3% in 2020 for Vietnam, the only ASEAN country they expect to have positive growth this year.

By being ahead of the curve of the Covid-19 crisis, Vietnam has the unique opportunity to increase its footprint on the global economy, said a World Bank’s senior executive.

Further monetary and fiscal support in the second half of this year could push growth closer to the government’s target of 4-5%.

The development of a Covid-19 vaccine is necessary for the Vietnam's economy to return to its pre-Covid-19 status.

The law is considered a potential game-changer, addressing various shortcomings of the previous PPP legal framework, most pertinently that relating to the allocation of revenue risk.

The South Korean ambassador to Vietnam suggested that the two countries should work on a mechanism towards the restoration of cooperation after the Covid-19 pandemic.

For this year and early 2021, the PM expects fiscal deficit and public debt could widen by an additional 3–4 percentages of GDP to provide more support for enterprises.

Vietnam’s economy is expected to buck the global trend and expand by 3.0% year-on-year in 2020, being one of the best performing economies in the world in 2020.