Vietnam’s economy forecast to bounce back in 2022

(VOVWORLD) - Many international organizations, financial institutions, and the business community have predicted that Vietnam's economy will bounce back in 2022 despite the ongoing COVID-19 pandemic.
Vietnam’s economy forecast to bounce back in 2022 - ảnh 1The ADB's GDP growth forecast for Vietnam.

Their forecasts are based on the fact that Vietnam is now among countries with the highest vaccination coverage in the world and its policy of safely, flexibly adapting to and effectively controlling COVID-19.

The Asian Development Bank (ADB) in its latest economic outlook kept its forecast for Vietnam’s GDP growth unchanged, at 6.5% this year, adding that exports will continue to drive the growth.

ADB Principal Country Economist for Vietnam Nguyen Minh Cuong said free trade agreements Vietnam has signed over the past two years will open up lots of opportunities for the country to access different markets, which will facilitate the development of domestic production of the industry, agriculture, and service sectors.

According to HSBC, Vietnam's economy will likely grow 6.8% this year, mainly thanks to strong FDI investment in the manufacturing sector and green development.

Vietnam’s economy forecast to bounce back in 2022 - ảnh 2 CEO of HSBC Vietnam Tim Evans.

CEO of HSBC Vietnam Tim Evans said Vietnam continues to be an attractive destination for foreign investors, adding FDI companies are focusing on green development, which he said, will create a new opportunity and strongly support the country’s manufacturing.

Economists said the recovery of domestic consumption will also be an important foundation for Vietnam's economic growth.