Vietnam's economy remains stable against external shocks - reported by World Bank

	Vietnam economic growth: History, today and future vision
	Pork price was asked to be reduced by Vietnamese Ministry
	Vingroup steps up to industrial real estate

Ho Chi Minh City, the southern economic hub of Vietnam

In its East Asia and Pacific Economic Update April 2020, the WB said on the upside, Vietnam is strongly positioned to benefit from numerous free trade agreements that are coming into force over the forecast period.

In the first two months, its exports have expanded by 8 percent, FDI inflows amounted to 2.5 billion USD and retail sales were up by 5.4 percent, the bank said, noting that while prospects remain favourable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the recent coronavirus outbreak, now a global pandemic.

The WB cited preliminary estimates as suggesting that the rate of expansion of the economy could decline to about 4.9 percent in 2020.

The most important negative impacts associated to the outbreak are on tourism and on manufacturing due to supply chain disruptions. Inflationary pressures are projected to increase temporarily.

With many households now wage dependent even in rural areas, a slowdown in tourism, hotels, and catering as well as manufacturing sectors could temporarily increase poverty during the first half of 2020, the WB predicted.

.Over the medium term, growth is projected to rebound back to 7.5 percent in 2021 and converge at around 6.5 percent in 2022, reflecting an improved external demand and a firming of the services sector, as well as a gradual recovery in agricultural production, the WB added.

It also suggested Vietnam manage external risks by persifying its trade flows, improving its competitiveness and adhering to new trade agreements.

WB announces up to 12 billion USD immediate support for COVID-19-stricken countries The World Bank Group announced Tuesday that it is making available an initial fast track package worths 12 billion USD to assist member countries better ...

World Bank: Vietnam can benefit more from global value chains Higher value added activities and boosting linkages between domestic firms with foreign markets and investors can help Vietnam move up global value chains, says two ...

World Bank accompanying Vietnam in achieving targets In a discussion on the eve of the third APEC 2017 Senior Officials’ Meeting (SOM 3), Mr. Achim Fock, Portfolio and Operations Manager World Bank ...