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Adjustments could help Vietnam go back to being high-performing economy

by VTV419 September 2020 Last updated at 10:00 AM

Photo: VNA
Photo: VNA

VTV.vn - COVID-19 has interrupted the country's journey to becoming a high-performing economy, but the right structural adjustments could help get it back on track, according to McKinsey & Company, a leading U.S. consultant firm.

Vietnam has the elements in place to continue its high performance such as growing disposable income, continued investments in infrastructure programs, and an attractive business environment.

Vietnam was already attractive as a destination for offshore manufacturing and for tourism before COVID-19. The country has shown that its systems can manage the outbreak, which may put Vietnam in a good position when international tourism resumes.

Attracting more FDI in the manufacturing sector will also be vital to accelerating Vietnam's path to higher growth, especially as manufacturers seek to strengthen and diversify their supply chains in response to the weaknesses that the pandemic exposed.

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