Vietnam’s economy is firm in the face of challenges

Growth Vietnam economy in 2022 is expected to reach 6.5% and in 2023 to reach 6.7%; in which industrial output increased by 9.5%, agriculture increased by 3.5%, according to the latest forecast of the Asian Development Bank announced on February 6. Results from the policy of flexibly adapting to the epidemic, vaccine coverage, opening to tourism, promoting economic recovery.

The World Bank also believes that Vietnam’s economy will grow 5.3% this year and then stabilize around 6.5%; The service is gradually recovering, the number of international visitors is expected to gradually recover from mid-2022. Although there are still challenges, Vietnam’s economy still has a lot of room for development.

“Vietnam is an example of success in the global value chain, especially in taking advantage of the change of global trade. Vietnam is really a model for attracting foreign investment. If presented. recommendations for Vietnam, I hope you will find ways to promote the service sector. This is an area with huge scope for development, increasing competition, increasing productivity,” said Mr. Aaditya Mattoo, Economist Head of East Asia – Pacific Region, World Bank, assessment.

2022 promises to be a year of growth for the Vietnamese economy. (Illustration image – Photo: Investment Newspaper)

Previously, credit rating agency Fitch also rated Vietnam’s credit at BB with a “Positive” outlook, showing that Vietnam’s medium-term growth continues to be optimistic. Fitch expects Vietnam’s GDP growth to accelerate from 2.6% in 2021 to 6.1% in 2022 and 6.3% in 2023.

Production activities continue to be focused and promoted, tourism initially prospered after more than half a month of opening to international tourists, which are the driving forces for Vietnam’s economic growth.

“2022 promises to be a year of growth for Vietnam’s economy. However, there are still a few challenges ahead, which are dependence on China’s supply chain, lack of infrastructure, and It is necessary to focus on clean energy transition and energy security, as well as focus on training quality human resources,” said Thibaut Giroux, President of the French Chamber of Commerce and Industry in Vietnam. .

In order to maintain growth momentum and respond to challenges, experts recommend that Vietnam continue to improve its position in the global value chain, focusing on finding ways to develop service industries according to the needs of the world. depth, creating more impetus for increasing the productivity of the service sector and the production and business sector and many other sectors of the economy.

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