(VOVWORLD) - International media forecast that Vietnam’s economy will continue to rebound in 2021. Vietnam will remain a bright spot if it can continue to stabilize its macro-economy and control the COVID-19 pandemic.
 A view of Ho Chi Minh City (photo: Getty Images) |
Vietnam’s economic achievements and containment of COVID-19 have been hailed by international media. Foreign news agencies have analyzed Vietnam’s successes and predicted bright prospects for Vietnam in 2021.
2021 – opportunities for Vietnam
The Straits Times of Singapore said 2021 will be an opportunity year for Vietnam. It predicts that Vietnam will make breakthroughs and boost growth while regional factories remain closed and demand for technological and medical products increase.
Asia Times said with COVID-19 containment, Vietnam’s economy surpassed many other Asian economies in 2020. Vietnam’s GDP is predicted to increase 7% in the next 5 years. Vietnam intends to speed up industrialization and modernization and become a developing country with modern industry and high-middle income by 2030 and a developed high-income country by 2045.
Nikkei Asia of Japan said Vietnam will lead regional economic growth this year. It quoted the IMF as saying that Vietnam’s GDP will reach 6.5%. Vietnam, Indonesia, and Malaysia will become the first economies in Southeast Asia to see full recovery in 2021.
The South China Morning Post sees Vietnam’s GDP exceeding 6% this year. The Business Times predicted Vietnam’s economy will achieve its growth targets. It cited Prime Minister Nguyen Xuan Phuc’s announcement at an online meeting that the government is aiming at a GDP growth of 6.5%, higher than the 6% set by the National Assembly.
 Inside a garment and textile company in Ho Chi Minh City (photo: Reuters) |
Important driving forces
The Times of India said that with the leadership of the Communist Party of Vietnam, the engagement of the entire political system, the close management of the Government, and the cooperation of the public, Vietnam has successfully controlled the pandemic. With a GDP growth of 2.91% last year, Vietnam was one of the world's fastest growing economies.
Vietnam has pushed ahead with international integration. Under Vietnam’s chairmanship in 2020, ASEAN’s 10 economies and 5 partners signed the Regional Comprehensive Economic Partnership to form the world’s biggest free trade area. Vietnam also signed free trade agreements with the EU and the UK.
The 13th National Congress of the Communist Party of Vietnam, which took place from January 25 to February 1, set socio-economic development targets and tasks for the next 5 years.
The website Proactive reported that Vietnam will resume 6% growth in 2021. It’s resilience during the coronavirus pandemic last year has raised Vietnam’s status as a trading partner and strengthened its trade ties with other countries.