Vietnam - a growth bright spot in Asia-Pacific: Thai news site
Thailand’s news site thaipublica.org has recently published an article describing Vietnam as a growth bright spot in Asia-Pacific and an attractive destination to Thai investors.
Bangkok (VNA) – Thailand’s news site thaipublica.org has recently publishedan article describing Vietnam as a growth bright spot in Asia-Pacificand an attractive destination to Thai investors.
The article cited the latest “Regional Economic Outlook forAsia and Pacific” report released by the International Monetary Fund (IMF) onOctober 28 as saying that Vietnam's GDP growth is expected to increase to 7%this year.
Vietnam’s positive outlook contrasts with a slowdown trendin other parts of Asia, as a result of weaker inflation which is also differentfrom the overall picture in this region, it wrote, adding that a reportreleased by the World Bank also affirmed that controlling inflation has helpedVietnam maintain its macroeconomic stability amid a complex global economicsituation.
According to the article, the State Bank of Vietnam'smonetary policy is still quite effective, as inflation in Vietnam remains at alower level than in many countries.
It quoted Francois Painchaud, the IMF's chief representativein Vietnam as saying that the country’s growth outlook remains positive, andVietnam remains a strong country in the future.
The IMF report said these achievements came from thecountry's strategy of living with the coronavirus and vaccination coverageacross the country. A series of effective policies, such as strong creditgrowth, low interest rate and government programmes for socio-economic recoveryand development have accelerated strong productivity and a recovery of retailand tourism activities.
Illustrative image (Photo: VNA)
One of the driving forces for Vietnam's economic growth is the surging foreign directinvestment (FDI) inflow, which shows theconfidence of foreign investors in the Vietnamese economy.
The article stressed that the Vietnamese market has been aninteresting market for Thai investors for over a decade. All leading Thaiconglomerates have entered Vietnam with increasing investment each year. Thaiinvestors are interested in doing business in Vietnam in various sectors suchas animal feed and agriculture, renewable energy, packaging, retail anddistribution, petrochemical, food processing, plastic products and energydrinks.
Thailand is currently the ninth largest investor among 140countries and territories pouring capital into Vietnam with a total capital ofmore than 13 billion USD. In terms of trade, Thailand is Vietnam's largesttrading partner in the Association of Southeast Asian Nations (ASEAN), with atotal turnover of 19.5 billion USD in 2021 and 10.6 billion USD in the first halfof this year./.
Vietnam takes the lead and set to post a 31% growth in gross merchandise value (GMV) from 23 billion USD in 2022 to 49 billion USD in 2025, according to the latest "e-economy SEA 2022" report released by Google, Temasek and Bain & Company.
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Illustrative image (Photo: VNA) 
Illustrative image (Photo: VNA) 
