By 2025, Vietnam targets to be among the leading 70 countries in e-government development, while the digital economy would account for 20% of total GDP.

Vietnam has already held a number of advantages for smart city development, including a broad coverage of 4G network, high accessibility of IT services and smartphone penetration in the country.

Such a high fiscal deficit is due to low state budget revenue and increase in regular spending under the severe Covid-19 impacts.

This comes as Vietnam’s GDP growth in 2020 is set to expand by 2 – 3%, much lower than the 6.8% target initially set for the year, Prime Minister Nguyen Xuan Phuc has said.

While Vietnam is on track to witness the strongest growth in ASEAN this year, a weakening job market is the biggest risk to its economic recovery.

Vietnam's 2021 growth is forecast at 11.2%, the highest in the Asia-Pacific region.

The Vietnamese government is recommended to consider applying AMRO’s “4C and 4R” framework on policy design toward robust economic recovery and sustainable growth.

The country’s economic expansion in the third quarter is expected to be in a range of 1.04 – 1.69%.

Continuing the success of the August Revolution, the Vietnamese people then recorded significant victories in the resistance wars against the French and Americas as well as in the Doi Moi economic reform.