HSBC: In 2021, Vietnam's economy will grow by 8.1%

(Vietnam is the only ASEAN economy forecasted by HSBC to grow positively in 2020 - Illustration: TAN LUC )

HSBC has just released a report "Asia Economics: It's about stamina".

In this report, HSBC said that despite many significant challenges, Vietnam's economy still recorded a growth rate of 1.8% in the first half of 2020.

This result is thanks to the Government's proactive efforts to control the epidemic, in order to prevent the number of new infections from increasing.

However, when Vietnam was set to recover earlier than other countries, the second outbreak of COVID-19 at the end of July stalled this process. 

With the results of the 2nd anti-epidemic, HSBC affirmed that Vietnam is the only ASEAN economy that the bank continues to forecast positive growth in 2020.

In the report, HSBC's economic research arm expects Vietnam's GDP growth this year to reach 2.6% (a slight decrease from the previous forecast of 3%).

In 2021, HSBC believes that Vietnam will benefit from a technology-led recovery and very consistent FDI flows. Therefore, Vietnam's economic growth in 2021 is expected to reach 8.1% (the previous forecast was 8.5%).

"Vietnam is still quietly 'taking steps' with a positive growth rate in 2020 and will reach the fastest growth rate in the region in 2021," HSBC said.