Vietnam Economic Recovery

Manufacturing for export is regaining momentum, alongside a promising outlook for long-term foreign direct investment.

The banking sector should provide sufficient capital for the economy, particularly in priority areas and other growth drivers such as consumption, investment, and exports.

The World Bank recommended that the government remain vigilant about inflation risks associated with food and basic prices.

If all goes uneventfully, Vietnam’s GDP growth in the third quarter may hit over 7%.

In the last half of 2022, banks may ease loan conditions so that more customers could access credit, given the positive economic outlook and their improving financial capacity.

Vietnam will finalize its legal framework to build an independent and self-reliant economy, with high resilience against external shocks in global integration, Prime Minister Pham Minh Chinh has said.

Vietnam’s prudent policies resulted in a prolonged period of high growth, price stability, and low public debt-to-GDP ratios.

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.

The committee’s objective is to assist the Prime Minister in researching and solving critical issues related to the implementation of the socio-economic recovery package.

The positive economic performance in the second quarter helped Vietnam’s GDP growth reach 6.4% year-on-year in the six months.