Vietnam likely to be top-performing Asian economy in 2020: CNBC
Vietnam is likely the top-performing Asian economy in 2020 amid the COVID-19 pandemic, according to an article posted on the US-based CNBC website on January 28.
Hanoi (VNA) – Vietnam is likely the top-performing Asian economy in2020 amid the COVID-19 pandemic, according to an article posted on the US-basedCNBC website on January 28.
The article said that the feat was achieved without a singlequarter of economic contraction at a time when many economies globally wereweighed down by the pandemic.
Not every Asian economy has reported fourth-quarter andfull-year economic numbers. But estimates compiled by CNBC from officialsources and institutions such as the International Monetary Fund showed Vietnamoutperforming all its regional peers last year.
The Vietnamese Government data showed that the country’seconomy grew by 2.9 percent last year from a year ago.
Bank of America economists are optimistic that the country’seconomic growth will accelerate this year.
The bank forecast the Vietnamese economy growing 9.3 percentin 2021 - a much higher growth rate than the 6.7 percent expansion projected bythe World Bank.
Vietnam’s manufacturing sector was widely credited for theeconomy’s outperformance last year, with production growing on the back ofsteady export demand. That’s a trend that will persist in the coming years, saideconomists.
According to Fitch Solutions’ December report, there willsee large scope for growth in Vietnamese exports in the years to come.
The Southeast Asian country has also inked several new tradeagreements - such as with the UK and European Union - which could further boosttrade flows, the consultancy said./.
2020 is a tough year for Vietnam, yet the economy has reaped remarkable achievements. Experts have been optimistic about Vietnam’s economic growth in 2021.
Vietnam’s economic growth is projected at 6.17 percent in 2021 in a base-line scenario and may even reach 6.72 percent in the best-case scenario, heard a conference held in Hanoi on January 20.
Vietnam continues to be one of the fastest growing economies in the world, said David Jarkulisch, a diplomat from the Embassy of the Czech Republic in Hanoi.
On the occasion of the ongoing 13th National Party Congress, several experts have made assessments and forecasts on the forthcoming development path of Vietnam.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Vietnam's import-export turnover exceeds 500 billion USD in 2019 - Illustrative image 
