Vietnam Report releases white book on Vietnamese economy in 2023
The Vietnam Report JSC has released a white book on the Vietnamese economy in 2023, highlighting the country’s economic achievements last year and giving forecast for 2024 as well as a number of policy recommendations.
Hanoi (VNA) – The Vietnam Report JSC hasreleased a white book on the Vietnamese economy in 2023, highlighting thecountry’s economic achievements last year and giving forecast for 2024 as wellas a number of policy recommendations.
According to Vietnam Report General Director Vu Dang Vinh, lastyear, despite impacts from the world economic crisis and domestic difficulties,Vietnam has still been a bright spot with GDP growth of 5.05% and therecovery of many areas such as export and industrial production.
In its recent report on Vietnam’s top 500 biggest businessesin Vietnam, Vietnam Report underlined that growth was recorded in revenueof all three major areas of industry-construction, service and agro-forestry-fisheriesin 2023.
The report also showed a year-on-year rise of 0.2% and 4.1%in the average return on assets (ROA) and return on equity (ROE), respectively.On the contrary, a downturn of 0.4% was seen in the average return on sales(ROS).
Meanwhile, the production and business situation of a numberof large enterprises in key economic sectors such as pharmacy, logistics,tourism, hotels - resorts, animal feed were also improved despite manydifficulties.
Except for the logistics industry, which is heavily impactedby the global economic downturn, all the remaining sectors enjoyed growth.
Particularly, Vietnam just witnessed a year with boom in thedomestic and international tourist market, and the growing demand for meat products,leading to a higher demand for animal feed.
The Vietnam Report held that if they overcome the currentdifficulties, businesses will reap great opportunities to become the maindriving force for the economy, enhancing their position in the domestic andforeign supply chains.
Vinh underlined that flexible adaptation efforts inproduction and business activities as well as governance strategies ofenterprises will be a premise for a more positive year in 2024 when theeconomic situation gradually improves.
He also underscored the need to build a strong trademark asa way for domestic firms to recover and thrive in the future./.
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Illustrative image (Source: VNA) 
