Vietnamplus

A rebound in tourism and domestic demand are factors that make Thailand maintain its economic growth outlook for 2023 at 3.8%, according to the Ministry of Finance.

The Philippines recorded economic growth beyond expectations in 2022, fueled by strong consumer spending despite rising consumer prices.

A survey conducted by the association showed 63% of Japanese enterprises said they would continue investing in operation expansion in the next 1-2 years, reflecting that investors have great expectations for Vietnam's economic growth.

After struggling to recover from the negative impacts of the COVID-19 pandemic, Ho Chi Minh City took back what it lost, achieving positive results in its socio-economic development in 2022.

High economic growth rate and fast-moving digital transformation in Vietnam and India have generated huge opportunities for the two countries to take greater strides in economic cooperation, Indian Ambassador to Vietnam Sandeep Arya has said.

The year 2022 has passed with many difficulties due to the COVID-19 pandemic and the world economic recession. However, last year, Vietnam's economy recovered impressively with GDP growth of 8.02%, the highest growth rate in the period from 2011 to 2022, far exceeding the target of 6-6.5% set by the National Assembly and the Government.

Vietnam’s GDP growth in 2023 has been adjusted upward to 6.8% in the ASEAN+3 Macroeconomic Research Office (AMRO)’s January Update, up from 6.5% in its October report.

A draft plan on the restructuring of the industry and trade sector targets average annual growth of over 8.5% in added industrial value.

Vietnam expects to earn 25 billion USD from the export of wood and wooden products by 2030.

Indonesian Minister of Finance Sri Mulyani Indrawati has said she was optimistic of overall economic growth of 5.2–5.3% in 2022, with a possibility of growth in the range of 5.0% in the fourth quarter.

Although the economy was forecast to continue facing difficulties and challenges in 2023, there were silver linings to pin hope on, experts said.

Indonesia will limit the construction of nickel smelters to ensure new plants to produce high-value products and follow green principles in the production process, Minister of Investment Bahlil Lahadalia said on January 13.

The Indonesian government has announced that it expects the value of exports to grow by 12.8% in 2023, much lower than the growth of 29.8% in 2022, according to Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto.

Vietnam- Philippines economic relations have thrived even at the height of the pandemic, as evidenced by the steady growth of their total bilateral trade, which reached 5.8 billion USD in 2021, and 3.12 billion USD as of June last year.

Vietnam has enjoyed substantial export growth to members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the three years since it came into effect.

The banking industry will continue to face difficulties in 2023 in the context of the real estate market downtrend and the less positive import and export outlook, analysts forecast.

Standard Chartered Bank forecasts Vietnam’s economic growth at 7.2% in 2023 and 6.7% in 2024, following a solid recovery to 8.0% in 2022.

Indonesia’s Minister of Foreign Affairs Retno Marsudi on January 9 said consolidating the ASEAN Secretariat will be a priority in the country’s ASEAN Chairmanship this year.

Ho Chi Minh City received some 6.8 billion USD in remittances last year, only a slight decrease compared to 2021 and accounting for 48% of foreign currency deposits at its credit institutions.

Prime Minister Pham Minh Chinh has urged the south central province of Phu Yen to turn its potential and advantages into resources for development during a working session with key officials of the locality on January 8.