Entitled “From Crisis to Endemic: Stumbling or Pressing Ahead?” the report examined the economies of Indonesia, Vietnam, Malaysia, and Thailand, which together account for over 70% of overall ASEAN gross domestic product (GDP).

Economists forecast Vietnam should still attract some US$30 billion in foreign direct investment this year.

In 2020, Vietnam was held up as a model for its ability to curb the initial Covid-19 outbreak, with discipline and social support for strong measures, resulting in low, near-zero numbers, it said. However, this has changed in 2021, when the country has experienced a surge of cases since 27 April, driven by the Delta variant, and the situation could not return to the previous low levels of infection.

The extensive lockdowns to prevent the spread of the coronavirus have disrupted not only local consumption but also impacting the manufacturing and supply chain activities to export markets. The pandemic impacts were especially felt by manufacturers of garments and electronics, noted the report.

At the macro-level, however, the Vietnamese economy showed considerable resilience. Even amidst the 2021 pandemic situation, trade numbers have remained strong with Vietnam’s total trade value of goods up 33.5% year-on-year in the first five months of 2021. This is supported by strong economic recoveries in major markets, especially the US and China, according to the report.

The report said challenges and impacts experienced by businesses operations and supply chains in 2021 could impact the future. Nevertheless, economists forecast Vietnam should still attract some US$30 billion in foreign direct investment (FDI) this year, or a 2% rise, year on year.

At a conference to announce the reports, experts held that the investment environment of Vietnam in the long term is prominent compared to other ASEAN major economies thanks to the political stability. Vietnamese attraction also comes from the country’s special policies to facilitate production and technology development, they said.

Bac Giang continues speeding up schedule of public investment projects

(BGO) – The Chairman of Bac Giang provincial People’s Committee (PPC) has issued document urging to further speed up the schedule of public investment projects.  

Vietnam remains magnet for EU investment despite Covid

EU investments in Vietnam rose by US$483 million year-on-year in the first nine months of this year to $22 billion despite the Covid-19 pandemic.

Bac Giang approves four projects for investment attraction

(BGO) – The Chairman of Bac Giang provincial People’s Committee (PPC) has approved for the list of projects for investment attraction in the districts of Luc Nam, Yen Dung and Bac Giang city.

Foreign businesses continue to see Vietnam as a good investment location

While a number of foreign companies have moved part of their production or orders to other countries, many still see Vietnam as a good location for investment in the long term.

Hanoi removes 28 administrative procedures in investment

Hanoi’s authorities have decided to remove 28 administrative procedures in the field of investment.

Source: NDO/VNA