The Central Institute for Economic Management (CIEM) and the Australia Supports Economic Reform in Vietnam (Aus4Reform) on July 15 announced two economic growth scenarios for Vietnam this year.
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Việt Nam and Australia are encouraged to soon finalise and sign their Enhanced Economic Engagement Strategy this year, towards sustainable recovery post pandemic.
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In the context of the complicated development of the COVID-19 pandemic, the wood industry still achieved an impressive growth rate in the first six months of the year with an export value reaching 61% of total turnover in the whole of 2020.
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Despite short-term challenges, European business leaders remain confident in Việt Nam’s long-term prospects.
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Though exports remain strong, several sectors face difficulties due to the COVID-19 pandemic and require support from the Government if they are to sustain the growth, experts said.
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Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.
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Vietnam is among the top expansion destinations for ASEAN companies looking for growth opportunities in the 10-nation bloc, according to a survey commissioned by Standard Chartered for its “Borderless Business: Intra-ASEAN Corridor” report released on July 8.
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Europe may be a large market for Vietnamese goods, but businesses need to ensure quality standards and consumption trends to fully capitalise, a workshop has been told.
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The potential for organic agricultural development in Vietnam is still great and the opportunity for organic agricultural products from Vietnam to enter Australia is very promising in the near future, said Nguyen Van Kien, Director of Canberra-based Mekong Organics Company.
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Vietnam exported around 3.2 million tonnes of pellets of various types last year, making it the world’s second largest exporter of the products, according to the General Department of Customs.
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