Vietnam’s GDP to continue positive growth

Despite the Covid-19 pandemic, Vietnam is expected to see continued growth.

05/26/21

According to Fitch Ratings, Vietnam’s economy is expected to continue to grow.

Vietnam.- Fitch Ratings has forecast that Vietnam’s GDP could continue to grow in 2021 despite ongoing Covid-19 countermeasures.

Among the Asian countries, Vietnam’s economy was one of the few which could maintain positive growth in 2020 despite the pandemic’s impact on domestic economic activity and tourism inflow.

Analysts have now revised their outlook from “stable” to “positive” due to the country’s success in bringing the Covid-19 outbreak under control.

Fitch Ratings forecasts Vietnam GDP will grow about 7 per cent in 2021 and 2022 in line with the normalisation of domestic economic activity despite a slow vaccination programme.

As for the gambling sector, in March casino operators asked the government to expand Vietnamese citizens’ access to casinos in major tourism destinations.

The request aimed to help casinos face the loss of revenue from tourists owing to the Covid-19 pandemic. However, two months on the government has not yet responded to casino operators.

At present, Vietnamese citizens are only permitted to enter two casinos: one on the southern island of Phu Quoc and the other in Van Don, in the northern province of Quang Ninh.