With an impressive growth rate of 5.66% in the first quarter of 2024 amidst global economic challenges, Vietnam’s economy received positive assessments from international experts, becoming one of the most attractive investment destinations in the region.
Climate change, natural disasters and epidemics are becoming normal challenges for the business sector in Vietnam. These things have a huge impact on consumer trends, suggesting a better pathway is sustainable production. Domestic businesses, especially the private sector, must adjust toward the green economy, mirroring the global business climate.
The Ministry of Information and Communications called on US enterprises to support Vietnamese firms, especially SMEs, to promote digital transformation.
Standard Chartered Bank has raised its Vietnam GDP growth forecast for 2022 to 7.5% from the previous 6.7% and for 2023 to 7.2% from 7.0% to reflect robust Q3 growth of 13.7% year-on-year. The last quarter 2022 growth is anticipated at 4.0%.
Foreign newspapers have highlighted Vietnam’s impressive success after the World Bank (WB) forecast that its economy will lead Asia with a growth rate of 7.2% this year, up from the previous forecast of 5.3% in April.
For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says.
The Asian Development Bank maintained its forecast for Vietnam’s GDP growth at 6.5 percent in 2022 and projected the economy to further expand by 6.7 percent in 2023, it was heard at a press conference in Hanoi on April 6 morning.
Canadian entrepreneurs have voiced their belief in Vietnam’s economic outlook despite the fourth wave of COVID-19 outbreaks and the adverse impacts of the pandemic on the country’s activities and momentum growth.
The economic prospect of Vietnam is bright and the country’s economic growth story is like a “miracle”, S D Pradhan, deputy national security adviser of India, commented in a recent article run by Times of India newspaper.
The European Union (EU)-Vietnam Free Trade Agreement (EVFTA) is expected to trigger high-quality FDI flows from Europe to the Southeast Asian country, Vietnamese Trade Counsellor in Italy Nguyen Duc Thanh has told the Vietnam News Agency (VNA).
Prime Minister Nguyen Xuan Phuc on June 3 signed off on the national digital transformation programme until 2025 with a vision to 2030, which targets the digital economy contributing 20 percent of Vietnam’s GDP over the course of the next five years.
The Vietnamese economy is likely to grow at an annual average pace of 7% during the 2021-2015 period, according to a projection by the National Centre for Socio-economic Information and Forecast.
In the first nine months of 2019, the final consumption expenditure was 7.2 percent, while asset accumulation rose 7.68 percent, and exports expanded 7.41 percent.
The acceleration of a digital economy is one of the Vietnamese government’s focuses to foster economic restructuring in combination with renewing the growth model and growth quality.
The General Statistics Office (GSO) and the International Monetary Fund (IMF) are working together toreview the methods to evaluate the Gross Domestic Product (GDP) scale of Vietnam.
Over the past year, most investment funds in Vietnam’s equity market have seen negative growth in net asset value per share (NAVPS) due to the poor performance of the market indices.
National Assembly Chairwoman Nguyen Thi Kim Ngan has affirmed Vietnam’s commitments to building a more friendly investment and business environment for enterprises, on par with global standards and those of the Organisation for Economic Cooperation and Development (OECD), of which Turkey is a founding member.
Standard Chartered Vietnam in Ho Chi Minh City on January 17 issued a global economic report, forecasting that Vietnam’s GDP will expand 6.8 percent in 2018.
Vietnam’s economic changes since its first hosting of the APEC Year in 2006 were the main content of an article written by Edmund Sim, which was recently published on The Diplomat magazine.
While in many countries tourism contributes remarkably to the economy, it makes up less than seven percent of Vietnam’s GDP. The figure is modest compared to the country’s potential.
