The COVID-19 pandemic has caused twin crises in the world: Health and economy. Pains, lethargies and difficulties, among many other “unwanted sufferings”, have hurt us. Meanwhile, hardships, uncertainties and risks still lie ahead. Vietnam is no exception.
With 424 out of 426 votes in favor, the National Assembly approved the Resolution on socio-economic recovery and development program on January 11 in Ha Noi.
The 5-year Socioeconomic Development Plan for 2021-2025 sets out 23 key indicators: 5-year average GDP growth of 6.5-7%, the share of processing and manufacturing industry to GDP at 25%, digital economy to GDP at 20%, and the total factor productivity (TFP) to growth at 45%.
There are many driving forces for growth for Vietnam in 2022, and the growth target of 6.0 - 6.5 percent for 2022 is quite feasible, according to foreign economists.
2022 is coming and Vietnam will step on the path towards recovery and sustainable development in all aspects of socio-economic life. The preparation of vaccine supplies is a highly important factor for the dual goals of virus containment and economic growth.
Foreign investors maintain an optimistic outlook for Vietnam’s economic growth next year though the country suffered a challenging 2021 as it was hit hard by the pandemic, according to an article posted on the website Vietnam Briefing of Dezan Shira & Associates.
Viet Nam is still an attractive economy as labor is not only cheap but productive while people are working a lot. The country also has tax incentive and many assets which make companies decide to come to Viet Nam, said World Bank Lead Economist and Program Leader for Viet Nam Jacques Morisset.
Vietnamese economy slowed to 2.58 percent growth in 2021 from 2.91 percent of the previous year, according to the General Statistics Office.
Export-import turnover hit 668.5 billion USD in 2021, up 123 billion USD compared to the previous year and posting the highest growth ever.
Ahead of the pandemic’s second year milestone, the Mastercard Economics Institute released Economy 2022, a global outlook for the coming year. Based on critical trends, the report reveals how five fundamental factors — savings and spending, supply chains, digital acceleration, travel, and a growing list of economic risks — will continue to shape the global economy.
Growth across South-East Asian (ASEAN) economies contracted in the third quarter of 2021, because of the challenges of the Covid-19 Delta variant. However, ASEAN is expected to be the fastest-growing region in the world in 2022 with a growth forecast of 6.1%, as a result of high immunisation coverage and successful management of cases so far.
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