The primary reason for positive economic growth this year is decisive steps to contain the health and economic fallout. Bloomberg has listed Vietnam one of five economies that are expected to grow in 2020 despite a global collapse in trade, travel and investment caused by the Covid-19 pandemic. GDP forecast for Vietnam and regional peers. Chart: ICAEW The International Monetary Fund (IMF) predicted this week that Vietnam’s gross domestic product (GDP) to grow by 2.4% in 2020, following a 2.6% on-year growth rate in the third quarter. International institutes have attributed the positive growth to early response against the pandemic, signing of some big trade pacts, internal strengths, and diplomatic influence. Covid-19 response and diplomatic influence: The Lowy Institute’s Asia Power Index published last month found that Vietnam’s international image was one of the Asia-Pacific’s best improvers this year, with its score on diplomatic influence gaining six percentage points, according to Asia Times Financial. “The country registered the largest improvement in relative power of any [Asian] country – gaining 1.3 points in 2020,” the report stated. The Lowy Institute also found earlier this year that Vietnam had the third-highest improvement in international reputation because of its handling of the Covid-19 pandemic,… Read full this story
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