HANOI (Vietnam News/ANN): While many places in Vietnam are struggling to fight the Covid-19 pandemic, the six-month economic picture still delivered optimistic data, showing the recovery process is continuing and partly overshadowing the challenges the country is facing to achieve its dual targets.
The recovery process is demonstrated in some important figures including the gross domestic product (GDP), disbursement of foreign direct investment (FDI), industrial production, entries of new enterprises and trade.
Vietnam s GDP expanded by 5.64 per cent in the first half of this year, much higher than the 1.82 per cent rate recorded in the same period last year. Although this number was lower than the pre-pandemic rates, it showed the macro-economy remained stable with improving production and business.
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24/06/2021 06:00 GMT+7
How will Vietnam overcome challenges to realize its development plans? Nguyen Dinh Cung, former head of Central Institute for Economic Management (CIEM), shares his perspective with VietNamNet.
One of the great successes of economic reform in Vietnam since doi moi (renovation) is the establishment of a community of businesses from different economic sectors with many ownership modes. Vietnamese enterprises are operating under similar legal forms as in other market economies.
High in quantity, small in scale
In terms of quantity, enterprises in the private sector account for the overwhelming proportion, 97 percent, while SOEs (state owned enterprises) account for 0.38 percent and FIEs the remaining.
There were positive developments of industrial parks in Việt Nam in the first five months of the year, but experts still say the country should do more to attract big investors.
COVID-19 Worries Return to Vietnam
Amidst a spike in new cases, the country is tightening restrictions in the hopes of repeating its 2020 successes against the virus.
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May 13, 2021
The Diplomat has removed paywall restrictions on our coverage of the COVID–19 crisis.
Healthcare workers arrive on the scene of a COVID-19 outbreak in Da Nang, Vietnam.
Credit: Hugh Bohane
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In comparison to other countries, Vietnam’s COVID-19 figures – 35 deaths and 3,571 cases – remain low; however, a new outbreak is likely to delay the reopening of the country’s borders, slow the tourism industry’s recovery, and depress the economy.
Vietnam has seen a new outbreak of COVID-19 sweep across 25 of its provinces since April 27, bringing 580 new infections to a country that had otherwise brought the virus mostly under control since the beginning of the pandemic.