A fundamental issue in Việt Nam which needs to be overcome to ensure healthy and sustainable growth is the underdevelopment of the institutional investor base.
Việt Nam''s economic growth might decelerate in the second half compared to that in the first half, with several supportive factors expected to sustain the overall growth outlook, according to the a report released by the Singaporean-based United Overseas Bank...
It is time to fully exploit the domestic market and consider it the focal point to balance the country’s export-oriented economic policies and strengthen the economy''s internal capabilities, according to experts.
Việt Nam not only relies on fiscal and monetary solutions to promote economic growth, but also s new growth drivers from innovation, new economic models, business environment reform, economic restructuring and improving regional planning and linkage.
Việt Nam’s real economic growth is expected to slow to 4.7 per cent this year, according to Việt Nam’s Macro and Poverty Outlook released by the World Bank on October 2.
Low demand has dampened Việt Nam''s economic momentum, leading to a decrease in economic growth. The import and export turnover has declined, impacting industrial production value.
Phương noted that measures to speed up public investment disbursement, foster exports, and stimulate consumption are being carried out strongly to fuel growth.
Viet Nam’s economic growth in H2 will be driven by accelerating public investment, the main beneficiaries of which are the construction, transportation, and construction material production industries.
With all factors considered, the economy is forecast to grow by 6.5 per cent in 2023 and 6.8 per cent in 2024. The growth would be supported by a sizable public investment, an expansionary monetary policy, and the reopening of China.
Standard Chartered Bank expects Viet Nam’s strong growth of 7.2 per cent in 2023 and 6.7 per cent in 2024, following a solid recovery to 8.0 per cent in 2022.
Total public investment to be delivered in 2023 is expected to top VND730 trillion ($31 billion), higher than the realised figure of VND540 trillion in 2022.
High-tech foreign investments will continue to propel Viet Nam’s economic growth for years to come, Michael Kokalari, chief economist at investment fund VinaCapital, has said.
The first half of this year saw a swift economic rebound as Viet Nam’s pandemic restrictions eased following the adoption of a living-with-COVID strategy and a robust vaccination drive.