The region contributes 32% of Vietnam’s GDP and 45% of the country’s state revenues.

A new plan sets out the future development of Vietnam, with increased incomes, modern industry, strong infrastructure and measures in place to protect the environment.

Vietnam’s economy registered strong annual growth of 13.7% in Q3, mostly reflecting a low base effect, according to the October edition of the World Bank (WB)’s monthly Vietnam Macro Monitoring.

If VN can develop national enterprises into powerful large corporations to act as pillars of the economy, the country will take off and prosper, economist Tran Dinh Thien told VietNamNet on the occasion of Vietnam Entrepreneurs’ Day (October 13).

Dropping global consumption is a challenge for various industries in Vietnam and local businesses might lay off staff or scale down operations.

The Government has projected the country’s gross domestic product (GDP) growth at 6.5% in 2023, saying it is achievable despite challenges ahead.

Only one of 15 social-economic development targets are not expected to be met or exceeded this year.

With Vietnam’s economy recording a positive recovery, the government is accelerating the country’s largest-ever monetary and fiscal package.

A writing published by the London-based Financial Times on September 26 described Vietnam as one of the seven economic wonders of a worried world.

Vietnam’s economic growth has been accelerating in 2022, with experts considering high-tech foreign investments as a driver.

Vietnam continues to strengthen its brand by accelerating national vaccine roll out program for its people and being one of the first markets to reopen in the post-pandemic period, told Tim Evans, CEO of HSBC Vietnam.

The nation has earned its status as a global production factory, although there are fears that it will remain an assembly platform in the future, according to a piece published by Japanese news service Nikkei Asia.

The goal of developing 1 million businesses by 2020 has failed. The biggest challenge lies in the business environment.

The Vietnam Socio-Economic Forum 2022, themed “Reinforcing macro-economic foundation, promoting sustainable recovery and development”, opened in Hanoi on September 18.

GDP (gross domestic product) growth has slowed down. The risk of falling to the middle-income trap and economically lagging behind exist.

Vietnam has built strong credibility by enabling a stable macroeconomic environment, high GDP growth, and low inflation, as well as fiscal prudence with one of the lowest Government debt-to-GDP ratios in the world.

Vietnam has witnessed a strong rebound after last year’s COVID related slowdown, said World Bank (WB) Lead Country Economist and Program Leader for Equitable Growth, Finance and Institutions in Vietnam Andrea Coppola.

The Finance Ministry said on September 6 that Moody’s Investors Service has upgraded Vietnam’s long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable from positive.

Many Japanese businesses believe that Vietnam needs to get rid of the image of an assembly and outsourcing country by creating new technology industries to help solve society's challenges.

Vietnam ranks as the fifth most open economy in Asia out of 37 nations evaluated by Fitch Solutions in its Vietnam Trade & Investment Risk Report.