Vietnam has high regional growth prospects, predicted at more than 6.5% in 2022. (Infographic by Oxford Economics)
Hanoi (VNS/VNA) - The economic recovery across the South-East Asian region has beenuneven and must now contend with rising external headwinds from outside theregion.
Vietnam ispredicted with a high growth prospect in the region, at more than 6.5% in2022, 0.7% higher than the average growth of 5.8% for the whole region.
This was a keyfinding from the Economic Forecast presented by the experts at theInstitute of Chartered Accountants in England and Wales (ICAEW) Economic InsightForum Q2.
Vietnam wasable to bounce back relatively quickly in 2021 compared to the rest of theregion. With the easing of restrictions from last year’s Q4 that carried overto this year’s Q1, there has been a significant recovery in its services sectordriven by domestic tourism.
With thecurrent endemic phase, there should be a boost on the international tourismfront as travellers return to Vietnam. Realised foreign direct investmentsinflow this year should also support construction performance and labour andachieve export capacity, which remains healthy.
The ICAEWreport said that even though recovery across the Southeast Asian regionhad been uneven with the Delta COVID variant, GDP for Singapore,Indonesia, Malaysia, the Philippines, and Vietnam has risen back topre-pandemic levels – except for Thailand, which is still at 2% belowpre-pandemic levels as its tourism industry struggled with travel and mobilityrestrictions.
It was notedthat Vietnam was not particularly affected by the Delta variant wave and hencedid not experience large lockdowns that impacted its economy as much asMalaysia and the Philippines did.
On the otherhand, Singapore was able to take advantage of the increase in demand forconsumer electronics globally to increase its GDP growth by 7.6% last year./.
The targets set for 2022, including the growth target of 6-6.5 percent, remain a huge challenge given the domestic and international situation, Deputy Prime Minister Le Van Thanh said at the third session of the 15th National Assembly in Hanoi on May 23.
Vietnam is targeting to control public debt below 60 percent of gross domestic product (GDP) by 2030 to ensure debt safety and national financial security.
The Singapore-based United Overseas Bank (UOB) has maintained its forecast for Vietnam’s GDP growth at 6.5 percent and core inflation rate at 3.7 percent of core inflation rate in 2022, but predicted that inflation may reach 5 percent in 2023 due to multiple risks and challenges.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
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.
Vietnam has high regional growth prospects, predicted at more than 6.5% in 2022. (Infographic by Oxford Economics) 
