Vietnam's economy to grow by 3% in 2020; storm situation worsens

A public security officer delivering food and clean drinking water for residents trapped by in Le Thuy District, Quang Bình Province in central Vietnam on Friday (Oct 23, 2020). - Vietnam News/ANN

HANOI, Oct 23 (Xinhua): Vietnam's economy is expected to grow by 3 per cent in 2020, with rising consumption on improving sentiments and faster manufacturing driving the growth in the last quarter of this year, Vietnam News Agency cited a recent report by Standard Chartered Bank (SCB) as saying on Friday.

"We expect the fourth-quarter growth to increase as domestic activity resumes and sentiments pick up," Chidu Narayanan, SCB's economist for Asia, was cited as saying, adding that the bank maintains its positive view on Vietnam's medium- and long-term economic outlook.