(VOVWORLD) - According to a report by Singapore’s United Overseas Bank (UOB), Vietnam’s GDP growth rate was only 1.5% in the third quarter, mainly due to the restrictions to contain the fourth COVID-19 outbreak in the country.
As a result of the disrupted global supply chain, Vietnam’s foreign trade activities have also slowed down. However, foreign direct investment to Vietnam has reached over 22 billion USD so far this year, showing investors’ strong belief in the country’s economic recovery and development, the report said.
UOB forecast that thanks to gradual containing of the pandemic and accelerated vaccination, Vietnam’s GDP growth rate will likely reach 7% in the last quarter of this year and 7.5% next year. UOB’s President Harry Loh said this downtrend is only temporary, and Vietnam will grow stronger thanks to the close cooperation between the government and people in the fight against COVID-19.