The VSIP Hai Phong integrated township and industrial park is a hotspot of FDI’s attraction in Vietnam with 58 projects worth over 2 billion USD (Photo: VNA)Hanoi (VNA) – Foreign media have run severalarticles highlighting Vietnam’s economic success given a struggling worldplagued by the COVID-19 pandemic.
The Nikkei Asia Review said Vietnam’s production sector hasproven its fast and steady recovery. The country’s open market and signing ofnumerous free trade agreements (FTAs), particularly the EU-Vietnam FTA, the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the RegionalComprehensive Economic Partnership (RCEP), are promising great opportunitiesfor growth. The paper said Vietnam stands out for its success in controllingthe pandemic.
According to the latest Asian Development Outlook releasedby the Asia Development Bank, Vietnam was estimated to grow over 2 percent lastyear while Thailand contracted by 7.8 percent. Thanks to its larger marketscale and cheaper labour cost, Vietnam surpassed Thailand in terms of foreigndirect investment and export value.
The Financial Express quoted the Economist Intelligence Unit(EIU) as saying Vietnam has emerged as a low-cost manufacturing base in Asiansupply chains, beating India and even China in indicators, including foreigndirect investment (FDI) policy and foreign trade and exchange control.
The Malaysian-based The Star posted an article highlightingthat member companies of the Vietnam Food Association (VFA) inked several exportcontracts in early 2021, especially with European partners and those from RCEPmember countries.
The Jakarta Post from Indonesia, meanwhile, praised the riseof e-commerce in Vietnam amid COVID-19. Although cash maintained its importancein the country, its number of mobile payments reached nearly 700 million by theend of August in 2020, up 980 percent against in the same period of 2019,official data showed./.
VNA
