Vietnam's economy is expected to grow 6.8% this year before slowing to 6.5% in the next few years.

A growing role of the private sector in the economy would help Vietnam overcome challenges and quickly adapt to international practices, said experts.

Over 50% of the Vietnamese population does not have a payment account at banks, therefore, mobile money would offer a non-cash payment method for a large base of customers.

Each agency and unit under the Hanoi People’s Committee are tasked with implementing plans to stimulate economic growth.

Such low growth rate was due to the severe impacts of the Covid-19 pandemic, with the hardest hit sectors being tourism, transportation, manufacturing, among others.