The Regional Comprehensive Economic Partnership (RCEP), which entered into force on January 1, 2022, is expected to boost Vietnam’s export and improve its access to large consumer markets, according Standard Chartered Bank.
Vietnam’s economic growth was backed by the industry and service sectors in the toughest time of the COVID-19 pandemic. Particularly, despite formidable challenges, industrial production expanded 5.42 percent in Quarter 4, 2021, and 9.4 percent in April this year.
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