#Vietnam’s economy

Vietnam's macro-economy in April and the first four months of the year was basically kept stable. Accordingly, production and business activities have had initial changes, which may be a positive signal to create momentum for the recovery.

PSNews - S&P Global Ratings anticipated that over the next 12 – 24 months, Vietnam’s economy will continue to recover from the challenges caused by the pandemic, which will support the external position and contain fiscal deficit.

Vietnam’s economy maintained growth across sectors, especially tourism, in the first eight months of 2019 despite global economic challenges and escalating trade tensions, Prime Minister Nguyen Xuan Phuc said at a cabinet meeting in Hanoi on September 4.

Vietnam reaped notable achievements in 2018, with economic growth hitting a record high of 7.08%, putting Vietnam on the list of Asia’s fastest-growing economies. New economic dynamics are expected to drive Vietnam forward in 2019 and help it achieve its 5-year plan targets by 2020.

With certain advantages, Vietnam has been the destination for many multinational businesses to seek processors, and processing in turn have become a major growth engine of the economy.

The likely gross domestic product (GDP) growth rate of 6.8% and improved business climate are among the highlights of Vietnam’s economy in 2018, experts said.

Over the first nine months of 2018, Vietnam’s economy continued to exhibit positive signs with a growth rate of 6.98% over the same period last year, according to a recent report from Colliers International in Vietnam.

Vietnam’s economy is seeing positive growth signs, according to a government report presented at the ongoing session of the National Assembly.