Economic Growth

During and after the pandemic, the digital economy should be at the center of economic policies for Vietnam in the post-pandemic period.

The capital city will prioritize banking, transportation, e-commerce, online advertisement and tourism for its 2021-26 digital economy.

Monetary policy should be maneuvered in a flexible and active manner to ensure sustainable growth and stability of both monetary and foreign-exchange markets, said the Party chief Nguyen Phu Trong.

Hanoi envisions to become a highly competitive city nationwide and of the region in a five-year time by restructuring the growth model based on technological advancement and innovation.

Vietnam’s leadership renewal marks a combination of experience and freshness, a suitable formula for Vietnam’s planned transition towards developed status by 2045.

The construction – industry sector was among key contributors for economic growth by an expansion rate of 7.99% year-on-year, representing an increase of 1.43-fold year-on-year.

To ensure efficient operation of industrial clusters, Hanoi would provide supporting policies for enterprises and business households relocating their operation into industrial clusters.

Further fiscal and monetary policy interventions may be needed to support recovery of private demand, asserted the World Bank.

Hanoi targets to achieve an average economic growth of 7.5-8% during the 2021-25 period.

Economic achievements are absolutely crucial for Vietnam’s overall growth, its reputation and contribution to Vietnam’s soft power.