Vietnamese economy enjoyed growth in the first eight months of 2022 with bright spots across various fields such as industrial production, trade and foreign tourist attraction.
A draft report on Vietnam’s economy was tabled for discussion at a meeting held at the headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris on September 5.
Vietnam's economic recovery will be stronger in the second half of 2022, particularly as the country resumed its tourism activities after a two-year closure, according to Standard Chartered's latest Vietnam report.
According to experts, the weak local currency pulls up inflation in the EU, which requires Vietnamese businesses to focus on increasing the competitiveness of export goods, creating a valuable difference for their products.
Vietnam’s socio-economy continued to recover in various fields in the first seven months of 2022. Export turnover was estimated to reach 216.35 billion USD, up 16.1%.
The Vietnamese economy is likely to grow 10% year on year in the third quarter of this year, driven by strong domestic consumption, according to Michael Kokalari, chief economist at VinaCapital, one of the country’s leading investment management and real estate development companies.
Experts believe fluctuations of key foreign currencies will affect import- export activities. Impacts should be limited, however, as most payments are transacted in the USD.
The Vietnamese economy grew by 7.7% in the second quarter, one of the fastest rates in a decade, and is expected to expand even faster this quarter, driven by an ongoing burst of consumption.
Workers’ average monthly income stood at 6.5 million VND (278 USD) in the first half of this year, respectively rising 5.3% and 11% from the same period of 2021 and 2020, statistics showed.
Vietnam is expected to come out second only to the Philippines in terms of projected GDP for 2022 and on top for 2023, according to a recent Quarterly Update of the ASEAN +3 Regional Economic Outlook.
Workers’ average monthly income stood at 6.5 million VND (278 USD) in the first half of this year, respectively rising 5.3% and 11% from the same period of 2021 and 2020, statistics showed.
The Lianhe Zaobao daily in Hong Kong, China, on June 30 ran an article highlighting Vietnam’s impressive economic growth of 7.72% in the second quarter.
There are promising signs for Vietnam and its economic recovery this year, Caitlin Wiesen, United Nations Development Programme (UNDP) representative in Vietnam has said.
European firms' confidence in Vietnam has reached the highest level since the fourth COVID-19 outbreak in April last year, according to EuroCham's latest Business Climate Index (BCI) report.
Vietnam can become the second largest digital economy in Southeast Asia in 2025, while the country’s e-commerce market will draw more large-scale businesses, forecast experts at an online seminar in Ho Chi Minh City on April 20.
A census of enterprises is to be conducted nationwide by the General Statistics Office (GSO) from April 15 to May 30, according to the GSO’s Department of Statistical Data Collection and IT Application.
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