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The forecast comes from the country's solid growth of 8% in 2022.

The country by 2030 will become a developing country with modern industrial sectors and reach the upper-middle income status.

The country is listed among outperformers in Asia thanks to lingering re-opening tailwinds.

Vietnam is likely to remain one of the outperformers in Asia.

Such high growth shows the Government's determination in its efforts for socio-economic recovery and development amid global uncertainty.

Such high economic growth reflects the economy’s strong recovery after a difficult period in 2020-2021.

The economy is on track to surpass the Government target of 6-6.5% this year.

Japan, South Korea, France, and Germany are the largest creditors of Vietnam.

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045.

Standard Chartered economists expect the State Bank of Vietnam (SBV) to keep the policy rate on hold at 4.0% in 2022 to support economic growth and businesses, despite rising inflation.

Vietnam’s economic growth will be driven by continued trade expansion, the faster-than-expected recovery of manufacturing, domestic travel, and the acceleration of public investment.

The local economy has seen a strong recovery during the second quarter of 2022 with the GRDP expanding by 9.49%, beating the expectation of 6.4-6.9% set in early 2022.

Economic reform is key for Vietnam to support growth and curb rising inflationary pressure.

With the right mix of policies and strategies, Vietnam can leverage its decarbonization efforts to advance development objectives so that achieving net zero emissions does not reduce GDP growth.

Vietnam saw an 11-year-high growth rate of 7.7% y-o-y in Q2/2022, largely reaping the benefits of re-opening tailwinds.

Vietnam’s economy has been firm on the recovery track, with the GDP growth in the second quarter at 7.72% year-on-year, the highest second-quarter growth since 2011.