Vietnam’s good performance in COVID-19 response will help the country recover quicker than most other economies in the region, according to Oxford Economics. Oxford Economics' forecast is for gross domestic product growth of 2.3 per cent in 2020 followed by 8 per cent growth in 2021.
 <p tw-text-large="" xcvn5d="" tw-ta"="" data-placeholder="Translation" dir="ltr" style="box-sizing: border-box; margin: 0px; overflow-wrap: break-word;">Processing pangasius for export at Can Tho Import Export Seafood Joint Stock Company. (Photo: VNA) |
Oxford Economics' lead Asia economist Sian Fenner wrote in a July 14 report that FDI is expected to pick up in the second half, with Vietnam's labor dynamics and geographical proximity to China ensuring that it remains an attractive destination for investment, particularly in manufacturing.
However, Fenner said ongoing restrictions on international travel will continue to restrict tourism, with government efforts to promote domestic travel still unlikely to offset the fall in international travel.
And with exports accounting for over 80 per cent of Vietnam's GDP, the pace of recovery will rely on global trade momentum, according to Oxford Economics' lead economist.
Source Vovworld.vn