The report found that the domestic textile and garment industry lacks sufficient domestic supply of materials.
Fitch Solutions have revised up its 2020 real GDP growth forecast for Việt Nam slightly to 3.0 per cent, from 2.8 per cent previously.
The Ministry of Industry and Trade (MoIT) and the Italian Ministry of Foreign Affairs and International Cooperation have signed an agreement to establish a new Joint Commission on Economic Cooperation.
With an increasingly open business environment, and continuing international integration, Việt Nam has long been regarded as a promising destination for foreign investment.
Economist Võ Trí Thành said that to adapt to the trend of restructuring the global supply chain caused by the pandemic, Vietnamese businesses must focus on innovation and utilise digital transformation to bring products to market.
The Việt Nam Institute for Economic and Policy Research (VEPR) forecasts Việt Nam's gross domestic product (GDP) to rise 5.3 per cent for this year in its annual Việt Nam economic report 2020 released on June 17 in Hà Nội.