Private investment s in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region . (Photo: baoquocte.vn) Hanoi (VNA) – Private investments in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region due to the impact of COVID-19 . Thanks to its success in containing the pandemic, Vietnam has emerged as a bright spot, with economic growth reaching 2.91 percent in 2020 – a positive rate given the gloomy global picture. The International Monetary Fund (IMF) forecast that its GDP will grow 6.7 percent this year. Goldman Sachs and HSBC are even more optimistic about the economy, which, they said, will expand 8.1 percent in 2021. Vietnam's middle and upper class is expected to grow substantially, from 25 percent of the national population in 2017 to 45 percent in 2030. Moreover, free trade agreements to which Vietnam is a signatory have benefited the country regarding tariffs and exports, especially smartphones and electronic products, garments and textiles, footwear, and agricultural products. Adjustments to the Law on Enterprises and the Law on Investment have also played a part in… Read full this story
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