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Vietnam’s GDP is expected to expand by about 4.8% in 2021 despite its robust economic performance in the first half of this year. This forecast, two percentage points lower than the projection in December 2020, accounts for the negative impacts of the ongoing COVID-19 wave.

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Key targets set out in resolution on socio-economic development plan for 2021-2025

During the first eight months of the year, the country recorded a total of 1,135 new projects from foreign investors with total registered capital of $11.33 billion. Foreign investors have also purchased shares and bonds worth $2.81 billion. FDI for the first eight months of 2021 reached $11.58 billion, a 2 per cent increase year-on-year.

The "Doi Moi" (renovation) policy, initiated by the 6th Congress of the Communist Party of Vietnam (December 1986) and further improved and developed by following congresses, has opened a turning point in the cause of national construction and development.

Given complicated COVID-19 pandemic development and its adverse impacts on global trade, Vietnam's exports still grew positively, partly driven by free trade agreements (FTAs) which reportedly helped diversify export markets and circumvent risks of unexpected developments.

Newly- and additionally-registered foreign direct investment (FDI) capital increased in the first eight months, while capital contributions and share purchases dropped remarkably.

Facing the prolonged pandemic, the customs sector has taken many urgent measures to clear freight congestion at seaports and quickly move shipments for COVID-19 pandemic prevention and control to provide the best working conditions for businesses.