#Vietnamese economy

Vietnamese economic growth is projected to ease to 6.3% in 2023 from a robust figure of 8% last year, as services growth eases and higher prices and interest rates weigh on households and investors, according to details given by the World Bank (WB)’s latest Taking Stock report released on March 13.

The Vietnamese economy is anticipated to enjoy positive growth of roughly 6% this year, while inflation is forecast to be at between 4% and 4.5%, according to financial experts.

A number of large financial institutions and foreign media agencies have agreed that the Vietnamese economy is on track to recover from the negative impact caused by the COVID-19 pandemic.

Boosting the development of the supporting industry is considered an important solution to help improve the quality and competitiveness of the Vietnamese economy and better serve the processing-manufacturing sector.

The Vietnamese economy has remained extremely resilient throughout the year despite the adverse impact of the novel coronavirus (COVID-19) pandemic, with import-export activities witnessing a gradual bounce back, according to insiders.

The Vietnamese economy looks set to benefit from joining new generation free trade agreements (FTAs) which will have a great impact on the expansion of the local import-export market and new online business models.

The first months of 2018 have seen positive socio-economic signs with the ten-year highest GDP growth of 7.38%, macro-economic stability and controlled inflation, a seminar heard in Hanoi on May 15 on the Vietnamese economy’s outlook for 2018 and to 2020.

The theme of the annual external economics conference this year (Vietnam Summit 2016), “Smooth Sailing Ahead,” has reflected the development situation in Vietnam, a country that is heading towards sustainable growth and prosperity.