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Economy

Vietnam vows 5% growth in post-outbreak foreign investment pitch

Prime minister calls on South Korea, Japan, US and Europe at business conference

Vietnam is bullish to achieve over 5% GDP growth in 2020. Prime Minister Nguyen Xuan Phuc attends the Special ASEAN summit on COVID-19 in Hanoi in April.   © Reuters

HANOI -- Vietnam is pressing for foreign investment to defend its status as Southeast Asia's fastest-growing economy, just as the country becomes the first in the region to emerge from the coronavirus pandemic.

"We must put our heads together to restart Vietnam's economy with the lifting of social distancing, to reach the target of over 5% gross domestic product growth in 2020," Prime Minister Nguyen Xuan Phuc said Saturday, in defiance of a projection for 2.7% growth from the International Monetary Fund last month.

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