Topic: GDP growth

PM Pham Minh Chinh chairing the Government regular meeting on August 5.

The economy fully recovered during the six-month period to pre-pandemic level

The performance in the second quarter exceeding the bank's expectations: UOB report

Vietnam's economy is on track for stronger growth this year, say HSBC analysts, but a sustained recovery depends on a rebound in domestic services sectors currently lagging behind the country's exports.

Vietnam still expected to be among the fortunate few to maintain strong growth this year, according to new report.

Central Institute for Economic Management identifies three GDP growth scenarios for 2023.

Figure higher than projected global GDP growth of 2%.

With no sudden changes and favorable conditions for the economy externally, the Ministry of Planning and Investment (MPI) has forecast that GDP growth will reach 8 per cent in 2022 and 6.5 per cent in 2023.

With the potential to develop into a trading and manufacturing hub of the world, Vietnam continues to attract foreign investors, analysts have said. Factors that make Vietnam attractive to foreign investors include strong GDP growth, of 7 per cent a year for two decades prior to Covid-19 and forecast at 7.5 per cent in 2022, and a young workforce fluent in English and possessing other skills.

Optimistic about Vietnam’s economy recovering strongly after Covid-19, primarily due to greater exports and the recent return of foreign tourists, the World Bank (WB) has forecast that GDP could grow 7.2 per cent this year. It also forecasts that inflation will come in at 3.8 per cent this year and 4 per cent next.