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COVID-19 Updates (Oct. 21): Standard Chartered: VN's economy grows positively despite COVID

October 21, 2020 | 08:58

Standard Chartered's experts forecast that Vietnam will stay in the list of rare economies that record positive growth in the year of 2020.

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No new infection in the community. (Photo: VNA)

No new infection in the community

The 6 am news of the National Steering Committee for COVID-19 Prevention and Control said that Vietnam has passed another 12 hours that no community infection has been recorded, the total number of infections stayed at 1,140.

Currently, the country has cured 1,046 cases, accounting for nearly 92%. Among patients under treatment, 10 patients were tested negative with coronavirus for the first time, 3 for the second time, and 3 for the third time. Death toll remains at 35. There are 13,929 people having close contact with confirmed cases or coming from pandemic-hit areas under quarantine at present.

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11th VietAd Exhibition held on October 20 in Ho Chi Minh City. (Photo: Tien Phong)

Advertising industry strikes to develop after COVID-19

At the 11th VietAd Exhibition held on October 20 in Ho Chi Minh City, 60 enterprises attended with the main purpose of expanding their customers and partners network, in order to overcome the consequences caused by COVID-19.

The novel pandemic has severely affected the industry. Experts says, as COVID-19 breaks in Vietnam are now under control, advertising businesses will continuously launch new products and services. This is an opportunity for the advertising industry in Vietnam to make a breakthrough and strongly recover.

According to the Vietnam Advertising Association, the advertising industry is quickly growing. At present, there are about 6,000 advertising businesses nationwide. The target set by the Government suggests that advertising revenue by 2030 should reach 3.2 billion USD. This shows that the advertising industry is playing an increasingly important role in promoting the socio-economic development of Vietnam.

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Standard Chartered: VN's economy grows positively despite COVID. (Photo: Vietnam Plus)

Standard Chartered: VN's economy grows positively despite COVID

According to Standard Chartered Bank's forecast, the Vietnamese economy will grow 3% in 2020 and 7.8% by 2021. The above forecast is given in the bank's Global Research Report named "Vietnam-Q3 disruption, but recovery remains intact".

Mr. Chidu Narayanan, Asia Economist of Standard Chartered Bank said: “Vietnam is among the few economies in Asia that recorded positive growth this year, regardless of the effects of the second COVID-19 wave. We expect Vietnam's economy to quickly grow in the last 3 months of the year thanks to the recovery of domestic economic activity and market sentiment. Investments in infrastructure and services sector will help Vietnam achieve growth figures that outperform other Asian economies. We maintain a positive view of Vietnam's economic prospects in the medium and long term. "

Previously, Vietnam State Bank also estimated that the country's GDP growth for 2020 and 2021 would range from 2.5 to 3% and from 6.3% to 11.2% respectively.

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Nearly 330 Vietnamese safely brought home from Angola. (Photo: VNA)

More Vietnamese safely brought home from abroad

On October 20, 2020, Vietnamese authorities, the Embassy of Vietnam in Angola, and Vietnam Airlines cooperated with Angolan authorities to bring home safely nearly 330 Vietnamese citizens from Angola.

With the aim of ensuring the health of citizens and preventing the spread of the COVID-19 pandemic, the national flag airline has strictly implemented security, safety, and epidemiological measures during the flight. Right after the plane landed at Van Don international airport, the flight participants went under medical supervision and concentrated isolation in accordance with current regulations.

In the coming time, rescue flights will be arranged according to the wishes of citizens, domestic epidemic situation and isolation capacity of Vietnam.

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