The 2020 is considered as a year of difficulties and challenges for the world economy in general, including Viet Nam. However, Viet Nam's economy still maintained growth with GDP growth estimated to increase by 2.91%.
Generally, the price’s level of this year increased quite high compared to the same period last year, affecting the price management and administration in 2020, leading to inflation control following the target below 4% set by the National Assembly facing many difficulties and challenges.
The Textile, Garment and Footwear industries are two of the industries heavily affected by the Covid-19 pandemic. The interrupted supply chain of input materials, the import markets had to close due to the implementation of social lockdown to prevent a pandemic, the decrease in demand for products were the difficulties that the industry faced this year. However, in the last months of the year, the sector's growth got a boost when the pandemic was well controlled in Vietnam.
CPI in November 2020 decreased by 0.01% over the previous month, increased by 1.48% over the same period last year and was the lowest increase level of November in the period of 2016-2020.
Agricultural production in the month focused mainly on harvesting winter paddy in the country, cultivating winter annual crops in Northern provinces and preparing to sow early winter-spring paddy 2021.
Viet Nam has been named as the Leading Heritage Destination, Leading Cultural Destination, and leading Culinary Destination of Asia at the prestigious World Travel Awards (WTA) 2020.
The index of industrial production (IIP) of manufacturing in October 2020 reached a high increase of 8.3% over the same period last year.
State budget investment capital in October estimated at 52 trillion VND, equaling 10.25% of the year plan, insignificantly higher than the rate of 10.15% in September.
In October 2020 (from 19/9/2020 to 18/102020), the whole country had 19,365 cases of hemorrhagic fever (6 cases died).
Average CPI growth rate in months tended to decrease, which is a positive sign that the average CPI in 2020 reaching the target set by the National Assembly below 4%.
