A package factory of the HAPLAST Joint Stock Company in northern Hung Yen province (Photo: VNA)
HCMCity (VNA) – Some foreign financial organisations have issuedrelatively positive predictions for Vietnam’s economy this year, with growthexpected at 6.5 - 6.7 percent.
StandardsChartered held that the GDP growth will rebound strongly to 6.7 percent in 2022and 7 percent in 2023, saying Vietnam’s medium-term outlook remains positive.
Thebank made the forecast in its latest reports titled “Still battling headwinds” and “Vietnam - Moving backto high growth“.
“Theeconomy should continue to bounce back in 2022 as the pandemic improves. Incomegrowth has outpaced spending growth in recent years; this provides a decentsavings buffer against the pandemic.” said Tim Leelahaphan, economist forThailand and Vietnam at Standard Chartered.
“COVID-19remains a key risk, at least in the short term. The first quarter could see afull resumption of factory operations, after closures in Q3/2021, andgovernment stimulus; clearer recovery is expected in March,” he noted.
Economistsat Standard Chartered said a continued improvement in the global tradeenvironment will support exports in 2022 although import growth is likely toremain high.
Inthe recent “Vietnam at a glance” report, HSBC said after two years of growthslowdown, the country’s economic growth will accelerate to reach 6.5 percent in2022. The Government also targeted this year’s GDP expansion at 6.5 - 7 percent,equivalent to the pre-pandemic levels.
Itnoted Vietnam has recovered steadily after hitting bottom in 2021 and that it willregain growth momentum in all aspects soon.
Manufacturingand export are expected to retain their leading positions, partly thanks to thestable commitments to foreign investment attraction. Besides, domestic demandis likely to bounce back further when current restrictions are graduallyremoved and the labour market revives.
HSBCnoted the biggest obstacle needing attention now is the ongoing COVID-19outbreak, especially the appearance of the Omicron variant, but it is encouraging that the vaccination has been much improved, enough for avoding another period of widespread social distancing./.
