Vietnam’s economy to strongly rebound in 2022

Photo for illustration. (Source: laodong.com.vn)

According to Standard Charter, Vietnam is expected to grow 6.7% in 2022 and 7% in 2023, with its medium-term outlook remaining positive. Vietnam will continue to be an important link in the global supply chain and a destination chosen by many businesses.

However, this organization also noted that inflation is likely to become a concern in 2022. Standard Chartered forecasts that Vietnam’s inflation will reach 4.2% in 2022 and 5.5% in 2023.

In the Vietnam Macroeconomic Update in February, the World Bank (WB) emphasized that at the beginning of 2022, Vietnam’s economy has many positive signs.

Accordingly, although exports decelerated and growth slowed, the trade balance of goods still had a surplus of 1.4 billion USD. Foreign direct investment capital registered and disbursed into Vietnam also has a solid start in 2022. The WB noted that inflation is still under control. The consumer price index (CPI) in January 2022 increased by 1.9% over the same period in 2021, equivalent to the rate recorded at the end of last year.

Fitch Solutions, a macro-economic research unit of Fitch Group, believes that Vietnam's economy will “grow above the trend” in the coming quarters. Accordingly, on the basis of 2.58% growth in 2021, Vietnam's economy will achieve 7% growth in 2022, higher than the 6-6.5% growth target set by the Government./.