Vietnam's GDP growth this year has been predicted at 5.3 percent by the WB. (Photo: VNA)
Hanoi (VNA) - The WorldBank (WB) has predicted Vietnam’s GDP growth this year at 5.3 percent, downfrom the previous forecast of 6.5 percent issued last October.
The projection was made inthe WB’s East Asia and PacificEconomic Update, April 2022 titled “Bravingthe Storms” that was launched virtually on April 5.
East Asia andPacific Chief Economist Aaditya Mattoo said Vietnam is one of the economiesthat the WB has strongly downgraded forecasts for growth indicators.
Though the predictionhas been revised down to 5.3 percent, it is just the baseline scenario. The growthcould stand at only 4 percent in the lower-case scenario.
Explaining the revision, hepointed to the difficulties caused by the Omicron variant of the COVID-19 pandemic, which has led to asurge in infections; considerable impacts of oil import which is equivalent to3 percent of the GDP; and higher import prices of other materials like iron and steel.
Though Vietnam was recognisedas one of the countries that have gained the most advantages and made the mostuse of opportunities to expand trade, that fact has also made it morevulnerable to external shocks. This means the country needs to be moresuccessful in building and completing its social security system, according tothe economist.
In its economic update, theWB predicted overall economic growth for East Asia and the Pacific at 5percent in 2022, 0.4 of a percentage point less than expected in October. If global conditions worsen and national policy responses are weak, growthcould slow to 4 percent.
It said the war in Ukraine threatens the unevenrecovery of developing East Asia and Pacific countries from the COVID-19 shock./.
Vietnam is expected to accelerate its economic recovery from the pandemic this year after having recorded a 2.6 percent increase in gross domestic products (GDP) in 2021, Singapore’s Business Times reported.
Vietnam’s economy is forecast to grow beyond expectation in 2022 as domestic demand rebounds and foreign direct investment (FDI) inflows remains stable.
Vietnam is poised to emerge strongly from the COVID-19 pandemic and place itself firmly on the radar of foreign investors, buoyed by rapid industrialization and a fast-growing middle-class.
Vietnam’s Gross Domestic Product (GDP) in the first quarter of this year was estimated to increase 5.03 percent year-on-year, higher than the 4.72 percent growth rate in the same period last year, according to the General Statistics Office (GSO).
The 5.03 percent growth in national gross domestic product (GDP) in the first quarter of this year, the highest ever since the outset of COVID-19 in 2020, is proof of the positive outcome brought about by changes in the mindset and vision as well as the timely decisions and policies taken by the government to deal with the pandemic.
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's GDP growth this year has been predicted at 5.3 percent by the WB. (Photo: VNA) 
