She made the remarks during the unveiling of the WB’s report "What will be the new normal for Vietnam" on July 30.

The Covid-19 pandemic is the largest economic shock for the past 35 years, posing risks in the health and economic sectors, she added. About 30 million workhands, equivalent to half of the country’s workforce, have been affected by the pandemic.

Experts at a ceremony to unveil the WB’s report "What will be the new normal for Vietnam" on July 30.

The report argued that Vietnam should not envision a return to the old normal, but rather should define what will be the new normal as the pandemic has changed in so many ways how people live, work, and communicate.

The main challenge for Vietnam will be finding new drivers of growth to consolidate the expected recovery.

“To adapt to the new normal, policymakers must find new ways to compensate for the weakening of the traditional drivers of growth while managing rising inequality,” Stallmeister said.

The WB report put forward three lines of action for Vietnam, which are to gradually reopen the country to international visitors, focus on fiscal policy, and support the rebound of hardest-hit businesses.

Stallmeister forecast that Vietnam’s GDP growth could reach 2.8% in 2020 and 6.7% in 2021.

Vietnam to achieve highest growth in region despite Covid-19

Vietnam’s economic growth rate is expected to slow sharply to 4.8 percent this year due to the impact of the Covid-19 pandemic, said a new Asian Development Bank (ADB) report released on April 3.

E-commerce platform Tiki reports unusual growth in February

Vietnamese e-commerce platform Tiki has reported an increase of 15 percent in sales since the beginning of February, saying in a newsletter it indicates the significant increase in shopping needs since the COVID-19 outbreak began.

PPC Chairman Duong Van Thai urges to pay high attention to socio-economic development ensuring growth targets

(BGO)- Chairman of the provincial People’s Committee (PPC) of Bac Giang province Duong Van Thai chaired a monthly brief meeting with chairpersons of people’s committee of the districts and city and leaders of the departments and related agencies on 27 February about socio-economic development, administrative reform, dealing with complaints and denunciations, traffic order and safety and land clearance compensation for the key projects.

Vietnam sees rice export growth in January

Vietnam exported 560,000 tonnes of rice in January 2020, earning 270.3 million USD, an increase of 12 percent in volume and 39 percent in value month-on-month, according to the General Department of Customs.

Most processing, manufacturing companies expect production growth, stability

About 84.8 percent of businesses in the processing – manufacturing sector predicted expansion and stability in their production for the first quarter of 2020, the General Statistics Office (GSO) said.

Source: NDO/VNA