VNExpress-Sept 9

Vietnam’s position in the global supply chain continues to strengthen despite factories being shut down and mobility restrictions due to the Covid-19 pandemic.

“Even with the supply chain and shutdown problems they have because of Covid right now, Vietnam is still going to do very well economically and it is becoming, every day, a more important piece of the global supply chain — especially for things that affect American consumers,” Adam Sitkoff, executive director of the American Chamber of Commerce in Vietnam (AmCham Vietnam) told Bloomberg Television. The country has had stringent travel restrictions in its biggest cities, Ho Chi Minh City and Hanoi, for several months now even as the fourth wave of Covid that began at the end of April has infected over 559,000 people. Standard Chartered bank has revised its GDP growth forecast for this year from 6.5 percent to 4.7 percent, while the World Bank has lowered its by two percentage points to 4.8 percent.

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