German newspaper highlights Vietnam’s post-pandemic economic recovery

16:55 | 05/05/2022 Economy

Germany’s newspaper Finanzmarktwelt has run an article on Vietnam’s full reopening post the COVID-19 pandemic, with rosy signs seen in all sectors.

According to the article, Vietnam faced a range of difficulties in the fight against the pandemic last year due to the spread of the Delta variant. However, the Southeast Asian nation has fully opened and shifted to living safely with the pandemic despite Omicron waves this year.

german newspaper highlights vietnams post pandemic economic recovery
Illustrative image (Photo: VNA)

The country’s export-import value hit a record US$67.37 billion in March, of which US$34.71 billion came from exports, surpassing the previous record in July 2021.

The article cited a forecast by the Asian Development Bank (ADB) as saying that Vietnam’s economy will expand about 6.5 percent this year.

It also highlighted Vietnam’s export of electronic products, especially mobile phones, garments-textiles and timber products.

Tim Lee Lahaphan, an economist from Standard Chartered Bank, said more and more foreign firms have planned to move their supply chains to Vietnam that is dubbed as a centre of electronics, garments-textile and footwear in the region, the article noted.

Apart from production and trade, the domestic tourism is also bouncing back, the article said, adding that since mid-March, Vietnam announced its complete resumption of tourism activities.

Tourism has significantly contributed to Vietnam’s economy, making up 9.2 percent of the national gross domestic product (GDP) last year, the article said.

Source: NDO/VNA