Addressing infrastructure constraints stays central for Vietnam to achieve long-term growth: WB
A challenging external environment and weaker domestic demand are leading to a slowdown in economic growth in Vietnam.
A challenging external environment and weaker domestic demand are leading to a slowdown in economic growth in Vietnam.
The goal of fully disbursing the public investment fund of VND711 trillion (US$30 billion) this year remains challenging.
The services sector has been a driver of economic support, with policies aimed at stimulating domestic consumption and promoting tourism to sustain growth in this sector.
The country's attractiveness as a destination for FDI in Southeast Asia with a young, increasingly educated and competitive workforce should help to keep long-term development intact.
Vietnam's economic growth began to weaken in late 2022 and continued into early 2023, resulting in GDP growth of only 3.32% in the first quarter.
This year, AMRO expected Vietnam’s GDP growth to hit 6% in 2023, and then rebound to 7,1% in 2024.
The forecast comes from the country's solid growth of 8% in 2022.
Such high growth shows the Government's determination in its efforts for socio-economic recovery and development amid global uncertainty.
Stability is essential for Vietnam to mantain growth amid growing global uncertainties.
The economy is on track to surpass the Government target of 6-6.5% this year.