Vietnam’s economic growth forecast to rebound strongly in 2022
Some foreign financial organisations have issued relatively positive predictions for Vietnam’s economy this year, with growth expected at 6.5 - 6.7 percent.
A package factory of the HAPLAST Joint Stock Company in northern Hung Yen province (Photo: VNA)
HCMCity (VNA) ꦿ– Some foreign financial organisations have issuedrelatively positive predictions for Vietnam’s economy this year, with growthexpected at 6.5 - 6.7 percent.
StandardsChartered held that the GDP growth will rebound strongly to 6.7 percent in 2022and 7 percent in 2023, saying Vietnam’s medium-term outlook remains positive.
Thebank made the forecast in its latest reports titled “Still battling headwinds” and “Vietnam - Moving backto high growth“.
“Theeconomy should continue to bounce back in 2022 as the pandemic improves. Incomegrowth has outpaced spending growth in recent years; this provides a decentsavings buffer against the pandemic.” said Tim Leelahaphan, economist forThailand and Vietnam at Standard Chartered.
“COVID-19remains a key risk, at least in the short term. The first quarter could see afull resumption of factory operations, after closures in Q3/2021, andgovernment stimulus; clearer recovery is expected in March,” he noted.
Economistsat Standard Chartered said a continued improvement in the global tradeenvironment will support exports in 2022 although import growth is likely toremain high.
Inthe recent “Vietnam at a glance” report, HSBC said after two years of growthslowdown, the country’s economic growth will accelerate to reach 6.5 percent in2022. The Government also targeted this year’s GDP expansion at 6.5 - 7 percent,equivalent to the pre-pandemic levels.
Itnoted Vietnam has recovered steadily after hitting bottom in 2021 and that it willregain growth momentum in all aspects soon.
Manufacturingand export are expected to retain their leading positions, partly thanks to thestable commitments to foreign investment attraction. Besides, domestic demandis likely to bounce back further when current restrictions are graduallyremoved and the labour market revives.
HSBCnoted the biggest obstacle needing attention now is the ongoing COVID-19outbreak, especially the appearance of the Omicron variant, but it is encouraging that the vaccination has been much improved, enough for avoding another period of widespread social distancing./.
The Ministry of Transport is coordinating with relevant ministries and agencies to develop a portfolio of transport projects and specific mechanisms for the implementation of the projects which will form part of the Government’s socio-economic recovery and development programme post-COVID-19, according to Minister Nguyen Van The.
State budget collection in 2022 is expected to reach over 1.41 quadrillion VND (61.7 billion USD), while expenditure is estimated at about 1.78 quadrillion VND (78.05 billion USD), up 4.5 percent compared to that in 2021, according to a report on State budget estimates for 2022 that has been made public by the Ministry of Finance.
Large retail firms are to gain even more market share this year as smaller competitors have been forced to exit the game after prolonged lockdowns and mobility restrictions during recent years, said industry experts.
Market capitalisation on the Ho Chi Minh Stock Exchange (HOSE) rose more than 42 percent year-on-year to 5.8 quadrillion VND (254.83 billion USD) by the end of 2021, accounting for 92.77 percent of the previous year’s GDP.
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On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
A package factory of the HAPLAST Joint Stock Company in northern Hung Yen province (Photo: VNA)
