Connect with us

What are you looking for?

ECONOMY

World Bank: Vietnam to grow 6.6 pct in 2021

The World Bank has forecast Vietnam to be among the fastest growing economies in the East Asia and Pacific region with a projected growth of 6.6 percent in 2021.

The growth will be based on a strong export performance and the recovery of manufacturing and services sectors, it says in its latest East Asia and Pacific economic update called “Uneven Recovery” released Friday.

The report says Vietnam and China are the two countries which are less affected by the Covid-19 pandemic, having deployed effective containment measures.

China is expected to grow 8.1 percent this year, while the rest of the East Asia and Pacific region is expected to grow by just 4.4 percent.

The report also states that countries that are heavily dependent on export and tourism will experience delays in economic recovery.

Apart from the World Bank, several other organizations have shown optimistic views on Vietnam’s growth in 2021. The Standard Chartered Bank has forecast Vietnam to grow at 7.8 percent this year, with manufacturing driving the revival.

The Asian Development Bank has forecast a 6.1 percent growth, the IMF, 6.5 percent, and HSBC, 7.6 percent.

Vnexpress

Automotive & Aerospace

After more than 3 years of establishment, VinFast has risen to become the fourth best-selling car company in Vietnam, setting its ambition to IPO...

LOGISTICS

Clarity, cost and efficiency in logistics can all be improved with effective data analytics and governance – particularly when navigating COVID-19. Logistics networks have...

CORPORATE

Steel giant Hoa Phat Group will begin construction of its first container plant in the southern province of Ba Ria–Vung Tau this June. Provincial...

Automotive & Aerospace

South Korea’s Kumho Tire plans to invest $305 million to expand its plant in Vietnam. The expansion, when completed in the first quarter of...

Scroll Up