The Academy of Policy and Development (APD), under the Ministry of Planning and Investment (MPI) released the 2021 Provincial Sustainable Development Index (PSDI) for cities and provinces across the country on Wednesday.

HSBC has raised Vietnam’s growth forecast from 7.6% to 8.1% this year but revised down the forecast for next year from 6% to 5.8%.

Vietnam’s economy is expected to have positive prospects in 2023 after witnessing stability in late 2022 with bright macroeconomic indicators amid the world’s difficulties.

Country Director of the Asian Development Bank (ADB) in Vietnam Andrew Jeffries has attributed Vietnam’s economic growth in 2022 to a strong performance across sectors.

Vietnam will not be prosperous without large private business groups because they are the pillars of the national economy and the backbone to create supply chains.

The global economy in 2023 is expected to be even more complicated and unpredictable, and more difficulties are anticipated, which will require greater efforts.

In 2023, the Government will continue to apply firm, flexible and effective monetary policies in close and harmonised association with fiscal policies and other policies, ensuring the overall effectiveness to meet the demand of the reality.

For the first time this year Vietnam’s foreign trade has hit the US$700 billion mark, marking a bright spot in the overall picture of the national economy amid global market volatility.

“We are proud that Vinachem's records in 2021 were broken after 9 months, so business results for 2022 will be much higher,” Nguyen Phu Cuong, Vinachem chairman, said.

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.

The Asian Development Bank (ADB) has raised its economic growth forecast for Vietnam this year to 7.5%, despite regional and global gloom, the bank said in a regular supplement to the Asian Development Outlook (ADO) 2022 released on December 14.

Vietnam’s strong economic performance in 2022 has been driven by several factors, including export, domestic demand and private investment, according to Andrea Coppola, the World Bank (WB)’s lead economist.

According to https://www.numbeo.com, the monthly living expenses of a Vietnamese person in October 2022 was VND10.8 million and of a four-member family VND38.5 million.

Following a resilient performance during COVID-19, experts predict that Vietnam’s economy will still maintain its appeal despite global headwinds in 2023.

According to the report, Vietnamese companies have been relatively resilient during the pandemic.

More public investment funds should be disbursed and credit limits lifted to provide capital and improve capital flow, experts have said.

Infrastructure investment, trade environment and competitive wages are three factors that keep Vietnam’s economy humming along and its growth numbers positive, according to an article published on the vietnam-briefing.com.

Vietnam aims to become a higher average income country and a high income country by 2035 and 2045. However, to reach that goal, it will have to overcome challenges, especially institutional ones.

Experts, and representatives of international organisations, and investment funds have shown their belief in the potential for sustainable growth in Vietnam in the coming tỉme.

A volatile global market, the COVID-19 pandemic, approaching the limit to horizontal expansion and inefficient macroeconomic policies in the past...