Hanoi (VNA) – Apart from challenges, manyopportunities will be offered to the Vietnamese economy in 2021, experts have said.
Such agreements as the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free TradeAgreement (EVFTA) to which Vietnam is a signatory will open up wide doors forthe country to further integrate into the world.
Economist Nguyen Minh Phong forecast that Vietnam’sagriculture, industry, export-import, and the domestic financial, stock andreal estate markets will grow further in the year.
Notably, with the current growth rate of the local processingsector, Vietnam would join the group of newly-emerging industrialised countries in the coming years.
Pham Dinh Thuy from the General Statistics Office said thatthe GDP growth target of 6.5 percent set by the Government is feasible in the normal situation.However, this would be a challenge for the country as 2021 is the first year of implementing the 2021-2025 socio-economic development plan.
The official pinned hope on the development of suchsectors as food, garment-textile, wood processing, metal production,construction and electricity production.
To achieve the set economic targets, it is a must tocontain the COVID-19 pandemic, he said, suggesting stepping up economicrestructuring, churning out typical products, streamlining administrativeprocedures, improving the domestic investment environment, and improving the country’scompetitiveness.
Thuy also highlighted the significance of tradepromotion and foreign investment attraction, which, he said, needs specificplans.
Pham Viet Hoai, Chairman of Kym Viet JSC, said theapplication of digital technology would bring about positive results to any firm.
According to Deputy Minister of Planning andInvestment Tran Duy Dong, after the PM adopted the national digital transformationprogramme, many sectors have reaped significant outcomes, benefiting people andthe entire economy.
Digital transformation is vital as it helpsenterprises improve their business governance and adapt to thelatest changes in technology, market and consumer taste, he said./.
Halonoviny.cz, an e-newspaper of the Czech Republic, has recently run an article highlighting Vietnam’s outstanding achievements over the past years, particularly in the fight against COVID-19 and economic growth.
The UK-Vietnam Free Trade Agreement (UKVFTA), which came into effective from January 1, will open the door larger for Vietnam’s key agricultural exports to the UK, Minister of Industry and Trade Tran Tuan Anh has said.
The UK-Vietnam Free Trade Agreement (UKVFTA), which became effective on January 1, is expected to create a strong motivation pushing Vietnam forwards on the path of economic development and international integration.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA) 
