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Vietnam’s economy regained its steady and steady recovery momentum

A series of major economic newspapers in the world have mentioned Vietnam as a regional production center, the fastest growing country in Southeast Asia with a high growth momentum forecast this year.

According to HSBC, “Vietnam’s GDP in the first quarter of 2022 increased by 5% compared to the same period last year. This number sends a very clear message that Vietnam has regained a steady and steady recovery momentum.” .

Newspaper Bloomberg The article “Vietnam GDP growth thanks to vaccines and manufacturing”, said that Vietnam, the fastest growing economy in Southeast Asia, has reaffirmed its growth prospect of 6.5% this year. That would be the fastest in the region and the second fastest in Asia-Pacific.

The article also quotes Mr. Khoon Goh, head of Asia research at Australia & New Zealand Banking Group in Singapore: “Vietnam’s economy has started to return to normal. Vietnam’s growth is expected to increase at a faster rate from Q2”.

Vietnam's economy regained its steady and steady recovery - Photo 1.

Vietnam’s GDP in the first quarter of 2022 increased by 5% over the same period last year. (Illustration image – Photo: Dan Tri)

Sheet Bloomberg provides reasons for Vietnam’s high growth: “Stronger manufacturing activity is key to maintaining overall activity in Vietnam, where exports are the main engine of the economy” .

“Vietnam’s economic growth will continue to be driven by high FDI capital, despite the volatile world economic context, but foreign capital inflows into Vietnam will continue to remain at 19.7 billion USD in 2021. We expect the export sector to continue to perform well in the medium term, and service industries such as tourism will also resume soon, helping to keep the overall financial situation stable. over the next two years,” said Ms. Sagarika Chandra, Country Director of Credit Ratings of Fitch Ratings in Asia-Pacific.

Thanks to a policy shift towards a more flexible approach to the pandemic and higher vaccination rates, many economic activities have gradually recovered. We expect the export sector to continue to perform well over the medium term, benefiting from Vietnam’s cost competitiveness and implementation of key trade agreements.

On the sheet Nikkei Asiaright under the headline “Vietnam’s economy grew by 5.03% in the first quarter of 2022” is a small headline “Exports up 14%, but soaring raw material prices are still a concern”.

Sheet Le Figaro Vietnam’s economic recovery has been confirmed, but the COVID-19 pandemic and the Russia-Ukraine conflict could have dramatic effects on the country’s growth, which is highly dependent on economic growth. Foreign Trade.

“Vietnam is an important part of the world economy, so when we have supply chain disruptions, global prices of energy and commodities increase rapidly, as well as disruptions in the transportation and consumption sectors in Vietnam. some major consumer markets like China, all of which have a big impact on Vietnam’s economy, as well as Vietnam’s growth and its business,” said Adam Sitkoff, Executive Director, American Business Association in Hanoi, assessment.

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