Fitch Solutions upbeats about VN’s economic prospect in next decade

VGP - The Vietnamese economy was forecast to yearly expand by 6.5% over the next decade as the government diversifies export markets and improves infrastructure, according to Fitch Solutions.

March 11, 2021 4:45 PM GMT+7

The above figure is lower than the preset growth target of the Vietnamese Government at 6.5-7% for the 2021-2025 period.

Fitch Solutions said that Viet Nam’s FTAs would help expand external market access and avoid overdependence on a single trade partner.

The country plans to prioritize imports of machinery and high-tech equipment, it said.

Last year, Viet Nam’s GDP growth rate dropped to 2.9% due to the Covid-19 pandemic. However, Viet Nam was among few economies that achieved positive growth during the pandemic./.

By Kim Loan