Professor Vladimir Mazyrin, leader of the Centre for Vietnamese and ASEAN Studies of the Far East Institute of the Russian Academy of Sciences, has described the results of economic development of Vietnam in 2020 as an extraordinary success.
Cargo handled at Tan Cang-Thot Not port (Photo: VNA)
Hanoi (VNA)–🌳 Professor Vladimir Mazyrin, leader of the Centre for Vietnamese and ASEANStudies of the Far East Institute of the Russian Academy of Sciences, has describedthe results of economic development of Vietnam in 2020 as an extraordinarysuccess.
In an interview withSputnik, the leading Russian expert on Vietnamese economy said positive resultswere posted amid recession and general crisis.
“For example, withinASEAN, only three countries - Vietnam, Myanmar and Laos - have positive GDPgrowth. All other countries are red.” ꦦ Vietnam’s 2020 growth isestimated at 2.91 percent.
Prof. Maryzin said thisis a great success, which will definitely help Vietnam rise to a higher positionin all world rankings in the near future. So Vietnam's successcan be called a phenomenon, he added. Compared to the global average, theoverall figure for 2020 is estimated to contract by 4.4 percent, in developedcountries 5.8 percent and in developing countries 3.3 percent. Major analystshave pointed out Vietnam has some of the best indicators in the world. The scholar stressedthat economic achievements are largely due to Vietnam's success in its fightagainst COVID-19. In the country, social activities and production works go onas usual, and all of these things affect the economy. The economic declineis very short, mainly in the second quarter - the peak of COVID-19 preventionmeasures, while the last two quarters saw increases of 2.69 percent and 4.48percent, respectively. The rates are forecast to be even higher in the Q1 2021. Although foreigninvestment declined by 25 percent, nearly 20 billion USD has been poured intothe economy. The figure equaled to 98 percent of the targets for foreign investmentregistrations in 2019. Meanwhile, Vietnam’s outwarddirect investment has increased 16 percent in the year. The success ofVietnam's foreign trade has also been impressive, Prof. Maryzin added.Turnover, excluding the service sector, did not decrease as in many countries,but increased compared to last year, as imports increased by more than 5percent and exports over 6 percent. Trade turnover in 2020is estimated at nearly 544 billion USD. Russian experts saidin 2020, all the declines in Vietnam are neither negative nor negative numbers.Therefore, Vietnam's GDP growth index in 2021 has been evaluated by both the Governmentand the world's largest organisations at 6-7 percent./.
Despite being the lowest in the past three decades, Vietnam’s 2.91 percent growth recorded this year is still a success of the nation in the context of the COVID-19 pandemic that is ravaging the whole world, according to foreign media.
The Sputnik news agency of Russia recently published an article that reviewed commentaries on Vietnam posted by Russian and other countries’ press outlets, reflecting Vietnam’s COVID-19 combat and achievements in different areas, especially diplomacy and economy.
Experts have been optimistic about Vietnam’s economic growth in 2021 based on the latest situation, as well as the sound decisions and policies adopted by the Party and Government.
Vietnam was a bright spot in 2020 for its success in controlling the COVID-19 pandemic, protecting people’s health and maintaining stable economic development in the context of the world struggling to cope with the crisis.
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Cargo handled at Tan Cang-Thot Not port (Photo: VNA) 
