Việt Nam stands firm amid pandemic: international media

Vietnamese citizens returning from France get certificates for completing quarantine. VNA/VNS Photo 

HÀ NỘI — Foreign media outlets have run several articles highlighting Việt Nam’s economic success in a struggling world plagued by the COVID-19 pandemic.

The Nikkei Asia Review said Việt Nam’s production sector has had a fast and steady recovery. The country’s open market and signing of numerous free trade agreements (FTAs), particularly the EU-Việt Nam FTA, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP), promise great opportunities for growth. The outlet said Việt Nam stands out for its success in controlling the pandemic.

According to the latest Asian Development Outlook released by the Asia Development Bank, Việt Nam was estimated to grow more than 2 per cent last year while Thailand contracted by 7.8 per cent. Thanks to its larger market scale and cheaper labour costs, Việt Nam surpassed Thailand in terms of foreign direct investment and export value.

The Financial Express quoted the Economist Intelligence Unit (EIU) as saying Việt Nam has emerged as a low-cost manufacturing base in Asian supply chains, beating India and even China in indicators, including foreign direct investment (FDI) policy and foreign trade and exchange control.

The Malaysian-based The Star posted an article highlighting that member companies of the Việt Nam Food Association (VFA) inked several export contracts in early 2021, especially with European partners and those from RCEP member countries.

The Jakarta Post from Indonesia, meanwhile, praised the rise of e-commerce in Việt Nam amid COVID-19. Although cash maintained its importance in the country, the number of mobile payments reached nearly 700 million by the end of August in 2020, up 980 per cent against in the same period of 2019, official data showed. — VNS