Business News

Although the economy is suffering from "unprecedented shocks" caused by the COVID-19 pandemic, businesses are still optimistic about the growth outlook in the fourth quarter of this year, a business survey showed.

Speaking at a virtual conference called ‘Invest in Vietnam. Wins and challenges’ organised by Adamed and Davipharm last week, Nguyen Hai Minh, partner at Mazars and Vice Chairman of EuroCham, said: “In Vietnam, FDI plays an important role, contributing a lot to the growth of the country, especially exports.”

Six commodities record export values of more than 10 billion USD during January-September, according to the General Statistics Office.

The index of industrial production (IIP) grew by 4.45 percent in the first nine months of this year over the same period last year.

Vietnam’s total merchandise import and export value was estimated at US$53.5 billion in September, down 2% from the previous month, according to the General Department of Vietnam Customs. Of the sum, the export value was US$27 billion, down 0.8% and the total import value was US$26.5 billion, down 3.1%.

Despite its good resilience, Vietnam's economy has been facing a serious pandemic outbreak since April 2021. Restriction measures, aimed to contain the pandemic, have negatively affected economic recovery that was strong in the first half of 2021.

Viet Nam plans to fully reopen borders to all foreign visitors from June 2022, according to the Viet Nam Administration of Tourism, under the Ministry of Culture, Sports and Tourism.

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