WB forecasts Vietnam’s growth at 5.5 percent in 2022
The World Bank (WB) has forecast that Vietnam’s economic recovery is likely to accelerate in 2022 as GDP growth is expected to rise to 5.5 percent from 2.6 percent in the year just ended.
Hanoi (VNA)🐼 – The World Bank (WB) has forecast that Vietnam’seconomic recovery is likely to accelerate in 2022 as GDP growth is expected torise to 5.5 percent from 2.6 percent in the year just ended.
The forecast was made in the WB's economic update for Vietnam thatwas released during a press teleconference in Hanoi on January 13.
🔥 Entitled “No time to waste: The Challenges andOpportunities of Cleaner Trade for Vietnam”, this edition argued that greeningthe trade sector should be a priority. Trade, while an important driver ofVietnam’s remarkable economic growth over the past two decades, iscarbon-intensive - accounting for one-third of the country’s total greenhousegas emissions - and polluting.
While Vietnam has started to decarboniseactivities associated with trade, more need to be done to respond to mountingpressures from main destination markets, customers, and multinational companiesfor greener products and services, it said. “Trade will be keycomponent of Vietnam’s climate actions in the years to come,” said Carolyn Turk, World Bank Country Director for Vietnam. “Promotinggreener trade will not only help Vietnam follow through on its pledge to reachnet zero emission in 2050 but will also help it keep its competitive edge ininternational markets and ensure trade remains a critical income and jobgenerator.” The report recommended that the Vietnamese Governmentact on three fronts: facilitate the trade of green goods and services,incentivize green foreign direct investment, and develop more resilient andcarbon-free industrial zones.
Assuming the COVID-19 pandemic will be brought under control athome and abroad, the forecast envisioned that Vietnam’s services sector willgradually recover as consumer and investor confidence restores, while themanufacturing sector benefits from steady demand from the US, the EuropeanUnion, and China. The fiscal deficit and debt are expected to remainsustainable, with the debt-to-GDP ratio projected at 58.8 percent, well belowthe statutory limit.
The outlook, however, is subject to serious downside risks,particularly the unknown course of the pandemic. Outbreaks of new variants mayprompt renewed social distancing measures, dampening economic activity.Weaker-than-expected domestic demand in Vietnam could weigh on the recovery. Inaddition, many trading partners are facing dwindling fiscal and monetary space,potentially restricting their ability to further support their economies if thecrisis persists, which in turn could slow the global recovery and weaken demandfor Vietnamese exports.
𓄧 WB experts said careful policy responses could mitigate theserisks. Fiscal policy measures, including temporary reduction of VAT rates andmore spending on health and education, could support aggregate domestic demand.Support for affected businesses and citizens could be more substantial and morenarrowly targeted. Social protection programmes could be more carefullytargeted and efficiently implemented to address the severe and uneven socialconsequences of the crisis. Heightened risks in the financial sector should beclosely monitored and addressed proactively./.
Vietnam’s gross domestic product (GDP) expanded by 1.42 percent in the first nine months of 2021 from the same period last year, marking a great success of the country in the fight against the COVID-19 pandemic and maintaining production and business amid the prolonged period of social distancing in many provinces and cities.
Amid a protracted COVID-19 outbreak, socio-economic data in October showed the contraction has bottommed out and Vietnam's economy has made positive changes, the World Bank (WB) in Vietnam said in its Vietnam macroeconomic update for November released on November 12.
Foreign direct investment (FDI) registered in Vietnam reached 26.46 billion USD as of November 20, up 0.1 percent year on year, according to the Ministry of Planning and Investment.
Vietnam’s economy should get back to GDP growth of 6.8 per cent next year, which will be driven by a return of strong foreign direct investment into the market, mainly focusing on the manufacturing sector, according to HSBC Vietnam.
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.
Illustrative image (Photo: VNA) 
