Vietnam maintains positive outlook for economic recovery in 2021: WB 09:40 | 17/03/2021
Illustrative image (Photo: VNA)
Hanoi - The rapid suppression of the new COVID-19 outbreak in late January 2021 has helped maintain Vietnamâs positive outlook for economic recovery this year, the World Bank (WB) has said.
In its latest Vietnam Macro Monitoring report, the WB said, looking ahead, special attention should be paid to how the COVID-19 vaccinations will be rolled out domestically and globally as they will impact the pace of Vietnamâs economic growth. Further fiscal and monetary policy interventions may be needed to support recovery of private demand.
According the WB, the Vietnamese government quickly introduced strict but targeted measures to suppress this new outbreak of COVID-19 in Hai Duong, the epicenter, including during the Tet holidays.
Tuesday, 12:36, 23/02/2021
Vietnam’s growth prospects will depend on how well and how quickly the authorities will bring the new coronavirus outbreak under control and how quickly international and national vaccinations will proceed, according to the World Bank (WB).
The fibre production line of the Phu Tho Textile Co. Ltd
In its Vietnam Macro Monitoring report issued earlier this month, the WB said January’s industrial production index jumped by 24.5% year on year, the highest growth rate since the beginning of 2019. Merchandise exports and imports respectively grew 51.8% and 41.8% from the same period last year.
The preliminary January goods trade surplus is estimated at US$1.1 billion. Exports to the US and China continued the robust growth of 2020 while those to the EU, ASEAN, Japan and the Republic of Korea (RoK) bounced back strongly. Similarly, imports from the RoK, ASEAN and the US joined those from China, Japan and the EU to stay in expansionary territor