Vietnam continues successful economic story: Credendo

Vietnam gained high economic growth in 2020. (Photo: VNA)

Credendo Group’s offices in Germany and Austria have published a study to evaluate the level of risk in Vietnam, which emphasized that the Southeast Asian country is continuing its successful economic story after its good performance in controlling the COVID-19 pandemic, reported Vietnam News Agency.

The article quoted conclusions of the latest country study of Credendo showing that Vietnam is one of the few countries that show a remarkable resilience in the face of the shock of the COVID-19 pandemic.

The positive development that Vietnam has enjoyed is mainly due to the rapid, consistent and extremely effective prevention of the SARS-CoV-2 virus following an outbreak in neighboring country China.

Credendo’s study shows that in 2020, Vietnam has achieved outstanding economic performance, while industrialized countries and emerging countries all over the world have suffered from global recession.

Vietnam’s commodity exports increased last year, while the country has also benefited from the investment shift as well as the export trend to the US.

Increased public investments in infrastructure also played a significant role in supporting economic activity. A more accommodative monetary policy – including the State Bank of Vietnam’s policy interest rate cut from 6% to 4% – brought an extra stimulus.

According to Credendo, at the 13th National Congress of the Communist Party of Vietnam, which ended in early February, the general political direction for the coming years was confirmed, with the economy and its continued liberalization as a key priority and guarantor of the stability of the one-party regime./.


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