According to the latest HSBC Global Research, inflation will be capped at 3.3 percent, below the 4 percent target set by the State Bank of Vietnam.
Vietnam’s trade will benefit from the FTAs it signed in 2020, the European Union–Vietnam Free Trade Agreement, the Regional Comprehensive Economic Partnership and the U.K.–Vietnam Free Trade Agreement, in the form of lower tariffs and greater access to some huge markets.
FDI continues to pour in since investors find Vietnam an attractive country. In the fourth quarter of 2020, industrial production returned to pre-pandemic levels, growing by 8 percent year-on-year, while GDP growth was higher than expected at 4.5 percent.
In the fourth quarter exports increased by 6.5 percent.
Consumer spending remained in positive territory in 2020 with an increase of 0.6 percent, while most countries in the neighborhood experienced a slump.
Full-year GDP growth was 2.91 percent, higher than HSBC’s forecast of 2.6 percent.
The government has set a GDP growth target of 6.5 percent for 2021.
- Here’s the list of winners for the Bank of the Year Awards 2022 in ASIA PACIFIC
- Asia Pacific experts uncover gender-based disparity in diagnosis, treatment, and management of Atrial Fibrillation
- Aloe Vera of America Receives Award for Environmental Health Efforts
- Bac Ninh attracts over US$2 billion of FDI in 2022
- NAVER and Samsung Electronics Join Hands to Develop Semiconductor Solutions for Hyperscale AI