Vietnam’s economic growth likely to expand 6.7 pct in 2021: ADB
Vietnam’s economic growth is expected to rebound to 6.7 percent this year despite the recent resurgence of the COVID-19 pandemic in nearby countries, and rise to 7 percent in 2022, according to the Asian Development Bank (ADB).
Hanoi (VNA) – Vietnam’s economic growthis expected to rebound to 6.7 percent this year despite the recent resurgenceof the COVID-19 pandemic in nearby countries, and rise to 7 percent in 2022,according to the Asian Development Bank (ADB).
In its Asian Development Outlook (ADO) 2021released on April 28, the ADB said Vietnam’s economicgrowth will be boosted by export-orientedmanufacturing, increased investment, and expanding trade.
The growth momentum is expected to continue, thanks to ongoing reforms toimprove the business environment and Vietnam’s participation in multiple freetrade agreements (FTAs) involvingalmost all advanced economies.
Rising internationaloil prices and increased domestic consumption is expected to push inflation upto 3.8 percent this year and 4.0 percent in 2022, the report said, adding thatfaster-than-expected recovery in China and the US would significantlyexpand Vietnam’s trade and growth prospects.
The report said Vietnam canmaintain inclusive growth by softeningthe pandemic’s impact on poverty and incomes.
The ADB also raised its 2021 economic growth projection for developing countries inAsia amid ongoing COVID-19 vaccine campaigns and the sharply increasing exportdemand in the world market.
Thedeveloping region in Asia, comprising 45 countries in Asia Pacific, is forecastto grow 7.3 percent by 2021, and 5.3 percent in 2022.
Meanwhile, the growth rate forecasted for theSoutheast Asian region is 4.4 percent, down from the earlier projection of 5.5percent due to the instability in Myanmar. The Philippines, the slowest economyin Southeast Asia last year with a 9.6-percent contraction, is forecast to grow4.1 percent this year./.
Experts have been optimistic about Vietnam’s economic growth in 2021 based on the latest situation, as well as the sound decisions and policies adopted by the Party and Government.
A biodiversity conservation corridor project funded by the Asian Development Bank (ADB) has made positive changes to forest protection in the central provinces of Quang Nam, Quang Tri, and Thua Thien-Hue.
The Asian Development Bank (ADB) announced on February 1 that it has allocated 25 million USD to help the Philippine government purchase COVID-19 vaccines.
The Asian Development Bank (ADB) has approved a 450 million USD loan to Indonesia to help Bio Farma, a state-owned vaccine supplier, procure and deliver safe and effective vaccines against the coronavirus disease (COVID-19).
The Asian Development Bank (ADB) has proposed to implement a smart and energy efficient city project (SEECP) with total investment of more than 1.56 trillion VND (67.29 million USD) in the Mekong Delta city of Can Tho.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
A view of Ho Chi Minh City (Photo: ADB) 
