At a textile company in Ha Nam province (Photo: VNA)Hanoi (VNA) - Vietnam’s GDP growth is expected to rebound to 7 percent in 2021, drivenby a recovery in goods and service export, resilientdomestic economy, and healthy investment inflows,according to the ASEAN 3Macroeconomic Research Office (AMRO).
In its Annual Consultation Report on Vietnam published on May 19, which was produced based on AMRO’s virtual2020 Annual Consultation Visit to Vietnam and data and information available upto February 11, 2021, the office said Vietnam’s manufacturing output continuedto expand thanks to robust exports and positive spillover from global supplychain restructuring.
The economic recovery is expected to continue on the back of an increase indomestic consumption following the relaxation of mobility restrictions, and anacceleration in public investment disbursement, it noted.
The report said continued policy support of the Government remains essential tobolster national economic recovery.
Effective food supply chain management and stable fuel prices will help theVietnamese government keep inflation below 4 percent in 2021, the report stressed.
Vietnam needs to step up its efforts to develop domestic supporting industriesin order to strengthen its participation and increase its value-add in theglobal value chains.
The ASEAN 3 Macroeconomic Research Office (AMRO) is an international organisationestablished to contribute towards securing macroeconomic and financialstability of the ASEAN 3 region, comprising 10 ASEAN member nations, China,Hong Kong (China), Japan and the Republic of Korea.
The Annual Consultation Report was prepared in fulfillment of AMRO’s mandate.The organisation is committed to monitoring, analysing and reporting to itsmembers on their macroeconomic status and financial soundness./.
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