Vietnam’s GDP is expected to expand by about 4.8% in 2021, and the economy could converge toward the pre-pandemic GDP growth rate of 6.5% to 7% from 2022 onward, the World Bank has forecast.

The World Bank has suggested the Vietnamese Government early devise back-up plans in case the COVID-19 pandemic could last one or two more years, and conduct vaccination in parallel with testing to control the pandemic and mitigate its economic loss.

VOV.VN - Slowing COVID-19 vaccination rate, along with travel restrictions, inadequate economic response policies, and limited social support schemes, have significantly affected the national economy, said Jacques Morisset, chief economist of the World Bank (WB) in Vietnam.

The average duration for customs clearance for exports last year stood at 38.4 hours, a decline by 57.38 hours compared to 2019, according to a survey of an inter-sectoral working group.

President Nguyen Xuan Phuc had meetings with many foreign leaders and World Bank Group (WB) President David Malpass shortly after he arrived in New York on September 21 (local time) for the General Debate of the UN General Assembly’s 76th session (UNGA 76).

VOV.VN - Vietnam’s economy will recover on the back of solid growth achieved in the first half of 2021 after the lockdown is lifted, Dorsati Madani, Senior Economist at the World Bank (WB) Vietnam, has said.

Vietnam should promote investment to revive its economy and strengthen its ability to respond to new risks despite its success in dealing with a crisis caused by the COVID-19 pandemic.

Vietnam will need to do more if it wants to become a digital powerhouse as envisioned in the socio-economic development strategy adopted by the Party in February 2021, said a report of the World Bank.

Integration with global manufacturing has helped keep Vietnam’s economy humming during the pandemic, according to an article published on news site The Economist on August 30.

VOV.VN - Vietnam’s GDP growth rate is unlikely to achieve the target of between 6% and 6.3% set for this year due to the impact of the fourth wave of COVID-19 infections across the country, according to industry insiders.