Recovery Vietnam

The rapid decline in Covid-19 cases in Vietnam helped lead to renewed growth of output and employment in April amid a return to more normal business conditions.

For the January-March period, the domestic steel industry churned out 8.45 million tons, up 3.2% year-on-year, with 8.13 million being consumed locally, up 11.9%.

The reopening of the borders, the government's active support for investors, and the resilience of domestic firms would open up a promising future for the industrial property market in 2022 and subsequent years.

Major cities, such as Hanoi and Ho Chi Minh City, have witnessed a steep rise in new business registration during the January-March period.

This year, Vietnam targets to welcome 65 million tourists, including five million from aboard, for revenue of VND440 trillion ($19.2 billion).

Vietnam stands firm as a safe, attractive, and high potential investment option for foreign investors in 2022, said Minister of Planning and Investment Nguyen Chi Dung.

Despite the risk of Omicron, Vietnam’s economy is expected to rebound strongly with a GDP growth of 6.5% this year from a modest of 2.58% in 2021.

Strengthening the healthcare system and ensuring effective and timely implementation of the Economic Recovery Plan for 2022-2023 is key for Vietnam to boost growth recovery this year.

Upcoming monetary-fiscal support programs may put Vietnam in the position to become a high-income country in the 2045-2050 period.

Along with drastic changes in the upcoming Land Law and continued efforts from the Government to push for public investment, there is strong confidence that the real estate market would return to a high expansion rate in 2022.