Vietnam one of fastest growing economies amid pandemic: WB

Vietnam Economy Vietnam one of fastest growing economies amid pandemic: WB The Saigon Times Wednesday, Jan 20, 2021,13:21 (GMT+7) Vietnam one of fastest growing economies amid pandemic: WBThe Saigon Times A container ship is seen at the Cai Mep International Terminal in the southern province of Ba Ria-Vung Tau. Expanding by 2.9% in 2020, the Vietnamese economy was one of the few economies that grew during the Covid-19 pandemic – PHOTO: ANH QUAN HCMC – Vietnam’s economic recovery accelerated in the last quarter of 2020, making the country one of the fastest growing economies amid the Covid-19 pandemic, according to the World Bank. The Vietnamese economy grew by 4.5% year-on-year in the fourth quarter of 2020 and thus expanded by 2.9% in 2020. Although that was significantly lower than the 7% growth rate in 2019, the country was one of the few economies that grew during the pandemic. At the sectoral level, agriculture was the most resilient with an estimated growth rate of 2.68%, while industries and services grew at 3.98% and 2.34%, respectively. The tourism-related sectors have been the most affected by the crisis, with accommodation and catering services dropping by 14.7% in 2020 compared to 2019. In December 2020, the industrial production… Read full this story

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