Professor Vladimir Mazyrin, leader of the Centre for Vietnamese and ASEAN Studies of the Far East Institute of the Russian Academy of Sciences, has described the results of economic development of Vietnam in 2020 as an extraordinary success.

The UK-Vietnam Free Trade Agreement (UKVFTA), which will come into force at 23:00 on December 31, 2020, will open the door wider for bilateral economic and trade ties and help form a solid foundation for their strategic partnership to reach a new height.

Vietnam is considered one of the 10 nations with the highest gross domestic product (GDP) growth in the world in 2020 and one of the 16 most successful emerging economies, Party General Secretary and State President Nguyen Phu Trong has said.

VOV.VN - It is anticipated that the Vietnamese economy will enjoy spectacular growth over the coming 15 years, rising from the world’s 37th largest economy this year to 19th position by 2035, according to figures compiled by the Centre for Economics and Business Research (CEBR).

The pandemic and uncertainties have put pressure on the global economy. However, Vietnam, though facing many risks, is expected to continue growing well.

VOV.VN - Experts from the Asian Development Bank (ADB) have revised up the nation’s GDP growth forecasts from 1.8% to 2.3% this year following the acceleration of public investment, coupled with the swift recovery of domestic consumption, according to the Asian Development Outlook 2020 (ADO) report released on December 10.

Weak regional connectivity across land, air and sea has hampered the growth of the southeastern region of Vietnam. Economists believe for the region to develop, it needs to change its mind set and strategy.

Natural disasters could shave 1.5% off annual GDP or even more if no appropriate measures are taken in response to climate change, according to the Ministry of Natural Resources and Environment.

Vietnam needs to develop a strategy to promote the development of the private sector over the next decade to maintain growth, speakers said at a conference on socio-economic development from 2021 to 2030 recently held in HCM City.

Vietnam's GDP may achieve a growth rate of 6% or greater in 2021, according to economists and industry experts.