Vietnam Economy Vietnam’s economy remains resilient amid coronavirus pandemic: WB By Thanh Thom Thursday, Apr 2, 2020,09:27 (GMT+7) Vietnam’s economy remains resilient amid coronavirus pandemic: WBBy Thanh Thom A garment plant at the Pho Noi A Industrial Park in the northern province of Hung Yen. The World Bank predicts poverty rates could double among households in Vietnam linked to the garment industry – PHOTO: VNA HCMC – Vietnam is significantly exposed to the coronavirus pandemic and the ongoing turbulence in the global financial markets, but its economy remains resilient to external shocks in the first few months of this year, according to the World Bank. The global lender noted in its latest economic update “East Asia and Pacific in the Time of Covid-19” that given Vietnam’s deep integration with the global economy, the country was hit hard by the Covid-19 outbreak, with manufacturing, tourism and transport activities falling abruptly in the January-February period. Vietnam has been feeling the pain of the ongoing global financial turmoil, with declining equity prices, rising sovereign spreads and decreasing capital flows. Yet, the national economy remains resilient. WB pointed out that Vietnam’s exports had expanded by 8%, foreign direct investment (FDI) inflows amounted to US$2.5 billion and retail sales… Read full this story
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