Last year’s export growth of 6.5% can be viewed as a bright spot in the nation’s economic picture, with this growth being attributed to the signing of a number of free trade agreements (FTAs).
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Talking to reporters from Customs News, PhD. Le Quoc Phuong, former Deputy Director of the Center for Industry and Trade Information (Ministry of Industry and Trade), said that the trade surplus in 2020 is unprecedented and demonstrates thegreat effort in the context of the Covid-19 pandemic. However, the huge export surplus also leads to many concerns.
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In 2020, despite the Covid-19 pandemic, Vietnam maintained its export surplus momentum and reached the highest trade surplus ever to date. The export results in 2021 are expected to be more impressive than 2020 if the pandemic is well controlled.
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Việt Nam has created new jobs for more than eight million workers over the past five years and is one of 10 countries worldwide with the lowest unemployment rate.
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Dr. Le Duy Binh, Managing Director of Economica Vietnam (an organisation that operates in the fields of development consulting, economic research, policy analysis and project management) spoke to the Customs Newspaperabout economic mattersin Vietnam in a turbulent year.
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Vietnam’s rice processing and trading have overcome the difficulties caused by the ongoing pandemic to acquire the export turnover of over $3 billion in 2020, a record in the past nine years, with exporters remaining bullish over future prospects.
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The labour market in the fourth quarter of 2020 showed many signs of improvement compared to the previous quarter, but many in Việt Nam still suffered from job or income losses, according to the General Statistics Office of Việt Nam (GSO).
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Vietnam’s development outlook is set to be formulated over the next few weeks when the 13th National Party Congress takes place in Hanoi, with the role of the private sector in the economy to be further enhanced, creating a fairer playing field for enterprises across all economic sectors.
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Enduring the hardest-ever period, international investors in Vietnam have been heading to technology-driven new business models during 2020 in a bid to weather the storm of COVID-19, expecting brighter prospects in the new year on the back of new motivations and plans.
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In 2020, the implementation of free trade agreements (FTAs) has achieved many positive results, although the domestic economy still faces many challenges. Talking to a reporter of the Customs Newspaper, Nguyen Thi Thu Trang (photo), Director of the Centre for WTO and Integration, Vietnam Chamber of Commerce and Industry (VCCI) said that State agencies still have a lot of work. To effectively implement the FTA, businesses must also make their own efforts to improve their competitiveness with certainty so as not to lose on "homefield".
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