Despite facing many difficulties and challenges, Vietnam has still recorded many positive results and the country is considered a bright spot in the “gloomy picture” of the wider global economy, according to Associate Professor Vu Trong Lam, Director and Editor-in-Chief of the National Political Publishing House Truth.

Addressing the Vietnam Economic Forum, held in Hanoi on December 12 to discuss the Vietnamese economy at the half term of the 13th National Party Congress, Associate Professor Lam said that, in 2021, Vietnam posted GDP growth of 2.56 per cent while many economies saw negative growth. In 2022, the country then posted growth of 8.02 per cent; its highest in the 2011-2022 period.

Total import and export revenue in 2022 also reached a record $732 billion, a year-on-year increase of 10 per cent.

Vietnam’s GDP growth is estimated at over 5 per cent in 2023, which is quite high compared to many countries in the region and the world.

Experts at the Forum pointed out that the prolonged Covid-19 pandemic had severe consequences, such as disruptions to supply chains, rising inflation, high interest rates leading to a decline in growth, and increased risks in financial and currency markets.

To cope with the global uncertainties, during the first half of the term of the 13th National Party Congress, a total of 36 resolutions and 54 conclusions were issued, including several resolutions relating to accelerating economic development and promoting economic recovery.

Associate Professor Lam noted that difficulties and challenges still face Vietnam that call for great determination and effort. In order to fulfill the target of posting average annual GDP growth of 6.5 per cent in the 2021-2025 period, it is necessary to record average GDP growth of 7.3 per cent in each of the remaining three years of 2023-2025, he said.