Vietnam’s gross domestic product (GDP) growth is expected to reach 6.25 percent in 2020 if the outbreak of coronavirus disease (COVID-19) is contained within the first quarter of this year, according to the Ministry of Planning and Investment.
Minister of Industry and Trade Tran Tuan Anh has asked agencies and organisations in all localities to strengthen the fight against corruption and trade fraud.
Capital Economics expects Vietnam’s economy to grow by around 7% this year, with strong export demand once again set to be the main driver of economic growth, despite global challenges.
Vietnam is advancing into 2020 following good results in 2019. Experts and companies tell Việt Nam News about their forecasts of the country's economic prospects this year as well as opportunities and challenges facing the country.
Viet Nam’s GDP growth would reach 6.8 per cent from the 7.02 per cent posted in 2019, mainly due to a slowdown in the industrial sector, analysts from Fitch Solutions forecast.
In 2019, the global economy witnessed a steady deceleration. According to estimates made by the International Monetary Organization (IMF) in October 2019, growth reached only 3.0 per cent compared to 3.6 per cent in 2018, lower than forecasts made in July and April respectively by 0.2 and 0.1 percentage points. Trade flow and foreign direct investment also decreased.
