Signs of economy recovery
On the morning of March 29, the General Statistics Office of Vietnam announced the socio-economic data in the first quarter of 2021, according to which the GDP was estimated to increase by 4.48% compared to the first quarter of 2020. Many economists considered this as an impressive growth rate in the context of many uncertainties caused by Covid-19 epidemics.
Total retail sales and consumer goods also increased by 5.1% compared to the same period in 2020. These are considered as the sign of Vietnam’s economy recovery during the Covid-19 period which was still complicated.
World economic experts believe that Vietnam is one of the few countries that will continue to recover strongly in the V-shape, compared to the pre-Covid-19 period.
Foreign investment FDI continued to rise sharply
According to data from the Foreign Investment Department of Vietnam, til March 20, 2021, the total foreign investment capital including new registration, adjustment and capital contribution, share purchase of foreign investors reached $10.13 billion, up 18.5% over the same period in 2020. Of which, newly registered capital increases 30.6% over the same period of 2020, reaching $ 7.2 billion; adjusted capital increased by 97.4% to $2.1 billion.
The fields attracting foreign investors to pour capital are processing industry, manufacturing industry (49.6% of total registered capital), electricity production – distribution (38.9% of total registered capital) …
In the first 3 months of 2021, Vietnam has granted new investment and adjusted capital for many large-scale investment projects such as LNG Long An I and II Power Factory Project (Singapore) – over $3.1 billion, O Mon II Thermal Power Factory Project (Japan) – over $1.31 billion, LG Display Hai Phong Project (Korea) increased investment capital by $750 million … This shows that Vietnam is increasingly becoming a strong FDI attraction in Asia, thanks to its good anti-epidemic capabilities and high potential for recovery economic growth.