Business News

The State Bank of Vietnam is predicted to continue maintaining a loose monetary policy with low interest rates, even as the global economy is showing positive signs.

Vietnam is pushing ahead in its mission to become the ideal manufacturing hub for overseas investors by taking advantage of a largely pandemic-free landscape and building on 2020’s successes.

Foreign Direct Investment (FDI) registered in Vietnam hit US$28.53 billion in 2020 as of December 20, 2020, down 25% year on year, according to the Ministry of Planning and Investment. They disbursed US$19.98 billion of their registered value, down 2% year on year.

All goals and objectives in the 2020 Plan of the industrial and trade sector were successfully fulfilled to positively contribute to the overall economic growth of Vietnam at 2.91%.

Resolution 02/2021 is expected to continue to step up reforms to further improve the business environment and enhance national competitiveness.

1. Connecting equipment supply-bid cancel
2. Inlet device for separator supply-bid extend
3. Insulator washing equipment supply
4. Materials and equipment supply
5. Electric equipment and materials supply
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Despite COVID-19 restricting the flow of foreign buyers and investors to Vietnam, positive signs were reported from local buyers in the last quarter of 2020 for high-end residences, brightening up 2021.

The stock market ended 2020 with diverse notes, from the selloff in Q1 which sent the VN-Index down to 660 points, the lowest in four years, to the recovery and strong rally, especially in Q4 despite the strong impact of Covid-19 on the global economy. What is the driver for the market confidence in 2021?