Vietnam's economy resists Covid-19, Asian Development Bank says
Hanoi, Sep 15 (Prensa Latina) Vietnam's economy will grow 1.8% this year, despite the Covid-19 pandemic, and 6.3% in 2021, the Asian Development Bank (ADB) predicted on Tuesday.
In its update of the Asian Development Outlook, the ADB predicted that the expansion of Vietnam's Gross Domestic Product (GDP) will be supported by its macroeconomic stability, the increase in public expenditures and the reforms to improve the functionality of companies and business environments.
Vietnam's participation in a series of bilateral and multilateral free trade agreements, mainly the deal that was activated recently with the European Union, will also contribute to the country's economic recovery, the bank pointed out.
Another factor in favor will be the current process to transfer the supply chains to countries with low-cost productive systems, as is the case.
According to ADB Director for Vietnam Andrew Jeffries, the country's economy predicts such prospects thanks to the efficient fight against Covid-19 by the Government and health authorities.
|By the minute||Most read|