That is the assessment given in the new Global Economic Outlook Report published by the consulting firm Oxford Economics (authorized by the Institute of Chartered Accountants of England and Wales - ICAEW).

The report forecasts that the gross domestic product (GDP) of Southeast Asia in 2020 will decrease by 4.2%; At the same time, the recovery of economic activity in the region in the coming quarters is not fixed especially in the fourth quarter of 2020.

However, contrary to the bleak forecast of Southeast Asia, the Report assessed Vietnam's economic recovery outlook as the brightest in Southeast Asia. Vietnam will be the only economy in the region to achieve positive growth in 2020. Previously, most international financial organizations also forecasted that among Southeast Asian countries, only Vietnam's economy may have positive growth this year.

According to Mr. Mark Billington - Director of ICAEW for China and Southeast Asia, the degree of impact from Covid-19 epidemic on each economy is different, so each country copes with the crisis. is different. Countries that can strike a balance between staying economically active and controlling the spread of disease are likely to recover faster than the rest. In particular, countries that have done well in the task of preventing outbreaks of the disease such as Vietnam and Thailand, will be able to recover stronger than those facing a new outbreak of disease outbreaks.

In the first 8 months of 2020, Vietnam's economy has achieved many remarkable achievements, growth is always impressive. Macro economy remained stable; monetary policy was implemented relatively well; foreign exchange reserve is about 92 billion USD and is expected to reach 100 billion USD by year end; Export continues to be a bright spot, reaching over $ 174 billion in eight months, up 1.6%. Trade surplus was over 11.9 billion USD; Public investment disbursement has been improved significantly, increasing nearly 31% over the same period, the highest increase ever. Many localities have announced disbursement of 100% this year; Enterprise development achieved some positive results. The number of enterprises returning to operation increased by nearly 30% ...

Recently, at the Vietnam - Japan Investment Connection conference, held by the ASEAN - Japan and Japan Trade Promotion Organization, the Chief Representative of Japan Trade Promotion Organization in Vietnam received as a matter of fact, the inflow of foreign direct investment into Vietnam will recover as soon as the Covid-19 translation is controlled. At the same time, the Government of Vietnam also has many policies to attract and create favorable conditions for foreign businesses. In addition, one of the other reasons is that Vietnam joins many free trade agreements and gradually joins global supply chains

Source: Tapchitaichinh