Illustration photoViet Nam was projected to be the only economy in Southeast Asia to attain positive growth rate in 2020, according to the latest report on global economic prospect which was written by Oxford Economics and commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW).
Viet Nam’s economic recovery prospect was brightest in the region with projected growth rate.
The report forecast that total regional GDP would drop by 4.2% while there remains not sure for regional economic recovery in the next quarters especially Q4.
Specifically, economies which properly controlled outbreaks like Thailand and Viet Nam would bounce back in a stronger manner than Indonesia and the Philippines which are struggling with new waves of COVID-19 infections when travel restrictions were early eased.
Earlier, the Vietnamese Government was set to lower this year's economic growth target to 2% to 2.5%, after the COVID-19 pandemic led to a global slowdown that hit the country's exports, inbound tourism and foreign direct investments./.