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The World Bank (WB) has predicted Vietnam’s GDP growth this year at 5.3 percent, down from the previous forecast of 6.5 percent issued last October.

Amid the COVID-19 pandemic and the unpredictable political and economic situation in the world, Vietnam should promote its economy’s internal strength and self-reliance to create momentum for recovery and development.

The Vietnamese economy will recover strongly in 2022, starting at the end of the first quarter, said Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered, at a seminar held in Hanoi on February 18.

An article recently posted on digitimes.com.tw, a media outlet of Taiwan (China), has said despite a year full of challenges in 2021, the Vietnamese economy has not been hampered by supply chains disruptions but sustains its positive outlook and stature as a global manufacturing hub in 2022.

Vietnam’s recovery is set to gather momentum in 2022, as domestic demand rebounds and export performance remains strong, according to Fitch Ratings.

The COVID-19 pandemic might not end this year and business sectors could not fully recover, however, the situation will be more positive than 2021 thanks to the adaptation to ‘new normal’ conditions, said General Director Nguyen Thi Huong of the General Statistics Office (GSO).

Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.

With a vibrant economic climate, Vietnam remains a strong candidate for investment from the Association of Southeast Asian Nations (ASEAN) and beyond, according to the Vietnam Briefing newswire.

Banks’ pre-tax profits this year will remain relatively positive but are yet to be sustainable as banks haven’t set up contingency reserves for restructured debts.

The World Bank, Asian Development Bank, VNDIRECT Securities Corporation, experts and investors are optimistic about Vietnam’s economic growth prospect next year thanks to drivers such as exports, domestic consumption, foreign direction investment attraction, timely and effective policies by the Government, according to an article recently published by Russia’s Sputnik.

German securities news site Börse-online.de on November 22 ran an article highlighting the high prospect of the stock market of Vietnam and the Vietnamese economy after COVID-19, underlining that the Southeast Asian country may grow 8 percent next year.

Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.

Despite the challenges facing Vietnam in the fourth wave of COVID-19, many experts and businesses remain confident that the country’s economic outlook will become bright again soon.

The World Economic Forum (WEF)’s Country Strategy Dialogue on Vietnam, held on late October 29, came to a success, demonstrating the WEF and global enterprises’ attention to and trust in the Vietnamese economy, Deputy Minister of Foreign Affairs Nguyen Minh Vu has said.

Vietnam is still seen as an attractive destination and the problems of 2021 do not mean that foreign investors will turn away, according to a recent report by Singapore Institute of International Affairs (SIIA).

Despite impacts of the COVID-19 pandemic, credit growth continued to expand in the first nine months of this year thanks to comprehensive and effective solutions, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

The Vietnamese economy is likely to gradually recover from the fourth quarter of 2021 and escape the minus growth seen in the third quarter thanks to the activeness of the business community and the Government’s efforts to remove obstacles facing enterprises, held economist Nguyen Bich Lam who is former Director General of the General Statistics Office.

A 1.42 percent year-on-year growth in gross domestic product (GDP) was recorded in the first nine months of this year in the context of prolonged social distancing measures as part of COVID-19 prevention and control efforts affecting all areas of the Vietnamese economy. Experts said the result is a great success of the country amid the pandemic situation.

A consultation with experts on socio-economic affairs took place in Hanoi on September 27 under the chair of National Assembly (NA) Chairman Vuong Dinh Hue and Vice Chairman Nguyen Duc Hai.

HSBC Vietnam has mapped out two scenarios for Vietnam’s economy until the end of the year which focused on the re-opening of the economy, according to its Chief Executive Officer (CEO) Tim Evans.