After two years of implementing the dual goal of “pandemic prevention and control and economic development”, and especially after it reopened its doors to international tourists on March 15, 2022, Vietnam’s economy has recovered strongly and posted impressive results.
Vietnam has been playing an increasingly significant role in global supply chains, with foreign media such as The Economist and Nikkei Asia highlighting its huge advantages in the era of de-globalisation.
The European Chamber of Commerce in Vietnam (EuroCham) on February 16 launched its 2022-2023 Whitebook, with the theme “Working Toward a Green Economy and Sustainable Development”.
Vietnamese small- and medium-sized enterprises (SMEs) have showed their limited participation in circular economy for both subjective and objective reasons, mostly related to resources, awareness, capacity and vision for benefits of circular economy, said Director of the Institute for Circular Economy Development (ICED) Asso. Prof. Dr. Nguyen Hong Quan.
Prof. Pankaj JhaPankaj Jha from O. P Jindal Global University of India has highlighted prospects of Vietnam’s economic growth in his recent article published on the website moderndiplomacy.eu.
Singapore's fintechnews.sg has published an article entitled "Vietnam's SMEs Get a Boost from Digital Lending" affirming that a strong import-export boom and positive digital trends are lending a helping hand to Vietnam's small and medium-sized enterprises (SMEs) to sustain growth.
The confidence of European enterprises in Vietnam’s economy declined for a second quarter but the S-shaped country still remains in the top five global investment destinations for their companies, the latest Business Climate Index (BCI) published by the European Chamber of Commerce in Vietnam (EuroCham) showed last week.
Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022. The following is the list of the top 10 defining events of the economy this year selected by the Vietnam News Agency.
The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam's GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker.
Vietnam's total import and export turnover in 2022 is estimated at 732.5 billion USD, up 9.5% compared to 2021, of which exports increase by 10.6% and imports by 8.4%.
A recent survey by the Ministry of Industry and Trade shows Vietnamese products account for more than 90% of the total commodities sold by domestic distribution establishments, and 60-96% by foreign supermarket chains in Vietnam.
Vietnam’s consumer market has substantial potential to grow and the country has shown a great deal of resilience post-pandemic, according to Mr Corey To, an economist from the Hong Kong Trade Development Council (China).
Brand building for businesses must go hand-in-hand with social responsibility to form the foundation for sustainable development, according to the Vietnam Chamber of Commerce and Industry (VCCI).
Vietnam’s economy is expected to grow by 7.2% in 2022, on the back of a strong rebound in domestic demand and continued solid performance by export-oriented manufacturing, according to the World Bank East Asia and Pacific Economic Update, October 2022.
Leading officials of the Standard Chartered said the recovery of Vietnam’s economy will proceed strongly in the second half of this year, especially now that tourism has been reopened following two years of closure.
Over the last decade, Vietnam has become a top destination for investment in manufacturing thanks to lower labour costs, simpler supply chain integration, better free trade access, and relative political stability, according to an article freshly published by the news site tradefinanceglobal.com.
HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region.
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