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The World Bank (WB) on June 30 affirmed its support to Vietnam’s recovery efforts by approving two development policy operations (DPO), totaling US$321.5 million.
The Vietnam Electricity Group (EVN) on June 29 signed a credit agreement with the French Development Agency (AFD) on a loan of 74.7 million euros (82.6 million USD) to develop the expanded Ialy hydropower plant in the Central Highland province of Gia Lai.
Vietnam has sufficient conditions to achieve the twin targets of curbing the COVID-19 pandemic and securing economic growth in 2021, according to Country Director of the Asian Development Bank (ADB) Andrew Jeffries.
Vietnam is still a popular investment destination for foreign investors, who poured 14 billion USD into the country during the first five months of the year.
Global supply chains will turn to Vietnam, India and Turkey for more diverse sourcing.US and other global buyers continue to choose Vietnam as one of the leading sourcing countries this year as they are seeking to diversify their buying away from China.
Despite the recent resurgence of the Covid-19 pandemic in nearby countries, Vietnam is set to be the fastest-growing economy in the Southeast Asian region with an economic growth of 6.7% in 2021 and rise to 7% in 2022.
Việt Nam's economy is likely to experience a strong bounce back in 2021 with GDP growing at 6.9 per cent in the best-case scenario in which the country able to secure significant FDI investment boosts coupled with a strong recovery of the global economy, according to a forecast by the Vietnam Institute of Economics (VIE).
Construction of the expanded Hoa Binh hydropower plant began in the northern mountainous province of Hoa Binh on January 10, with Prime Minister Nguyen Xuan Phuc attending the ground-breaking ceremony.