Vietnam Today

The United Overseas Bank (UOB) believes that Vietnam’s GDP growth will reach 6.5 per cent this year. With inflationary pressure increasing, the State Bank of Vietnam (SBV) is likely to maintain an appropriate interest rate policy to support recovery efforts. Regarding exchange rates, UOB forecasts the VND will depreciate slightly against the USD.

The Thai Chamber of Commerce and Industry in Vietnam (ThaiCham) was officially launched on April 5. It will promote investment by Thai investors in Vietnam and help Thai small and medium-sized enterprises (SMEs) wishing to invest in or expand business activities in Vietnam. ThaiCham will also promote trade and investment between the two countries in general.

At an online conference between the Government Standing Committee and Chairmen of local People’s Committees on April 5, Prime Minister Pham Minh Chinh mentioned eight groups of key tasks and solutions that must be implemented in the second quarter of 2022. Major tasks include maintaining macro-economic stability, controlling inflation, ensuring major balances, accelerating restructuring, and promoting the digital economy, digital transformation, and the green economy.

At his April 5 meeting with Panamanian Foreign Minister Érika Mouynes, who is visiting Vietnam, Prime Minister Pham Minh Chinh asked Panama to act as a bridge for Vietnamese goods to access Latin America and expressed a hope that Vietnam will become a gateway for Panamanian goods entering into Southeast Asia.

According to Mr. Le Trung Hieu, Director of the National Accounts Statistics Department at the General Statistics Office, GDP growth in the first quarter increased after two years of struggling with the Covid-19 pandemic. Although the Russia - Ukraine conflict and rising inflation have put pressure on the GDP target, growth of 6-6.5 per cent this year is completely feasible.

At the monthly government meeting reviewing March, held on April 4, Prime Minister Pham Minh Chinh said the socio-economy continued to recover strongly in the first quarter despite great pressure. Reports from the meeting show that GDP growth was more than 5 per cent, the CPI under 2 per cent, and the money market, financial stability, and major balances basically secure.