British economist upbeat about Vietnam’s economic outlook in 2021

28-May-2021 Intellasia | VOV | 5:02 AM Print This Post

A British economist has expressed his optimism about Vietnam’s overall economic growth for the whole year despite the impact the latest COVID-19 wave will have on its next financial quarter.

In its article published on May 25, Deutsche Welle outlined major measures Vietnam adopted last year to bring the COVID-19 outbreak under control, including street lockdowns, travel restrictions, business and border closure.

Many experts were worried such measures would deal a heavy blow to the country’s economy as well as its tourism services.

However, the Southeast Asian nation’s economy showed strong resilience, expanding impressively 2.91 percent in 2020 despite global contraction.

The country is now dealing with the fourth COVID-19 wave which will certainly have an impact on its financial landscape in the following quarter, according to Kenneth Atkinson, a member of the British Chamber of Commerce Vietnam (BritCham Vietnam).

“But by the way the authorities are controlling the industrial areas in the north, I would expect that within three to four weeks those areas will open again but there will be a lag,” the economist told Deutsche Welle..

He said he remains optimistic about Vietnam’s overall economic growth in 2021 to be driven by its increasing exports to the European Union and strong overseas remittances.

Both Vietnam and the EU had ratified their free trade agreement (EVFTA) which came into force last August. Latest statistics show Vietnamese exports to the EU this year are expected to rise 28 percent against the previous year.


Category: Economy, Vietnam

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