Vietnam economy in 2020 and prospect in 2021

Abstract

Vietnam’s economy has passed a turbulent year, heavily affected by the Covid-19 pandemic. The economic growth rate in 2020 reached 2.91%, although much lower than the previous years, but can be considered as a proud achievement in the context of disease prevention and the nation’s efforts to overcome difficulties. This result is the premise for more positive prospects for achieving the high growth target of 6.5-7% growth in 2021. However, higher efforts are needed from both the state agencies and businesses to exploit opportunities and growth driving forces from the recovery of the manufacturing, manufacturing, and tourism industries, along with the trend of boosting exports, attracting strong domestic and foreign investment, and promoting digital transformation.