Vietnam to halve 2020 GDP growth target due to pandemic

Hanoi will not raise minimum wage in 2021 for the first time in decades

Hit by a resurgence of coronavirus from July, Vietnam has halved its GDP growth target this year and will not increase minimum wage next year. © AFP/Jiji

TOMOYA ONISHI, Nikkei staff writer

September 7, 2020 20:05 JST

HANOI -- The Vietnamese government is set to lower this year's economic growth target to 2% to 2.5%, after the COVID-19 pandemic led to a global slowdown that hit the country's exports, inbound tourism and foreign direct investments.