The national Plan on Socioeconomic Development next year may not reach its desired growth goal if risks continue lingering and the country’s hallmark scheme on recovery keeps its existing slow pace in implementation.

Establishing value chains which were resilient to external shocks would be an important factor for enterprises to enhance their adaptability to crisis.

Though massive difficulties are lingering, Vietnam’s industrial production has continued its uptrend, with an expansion in demands for vital inputs in service of business and production activities – but risks lying ahead.

The National Assembly passed a resolution on socio-economic development tasks for 2023 at its year-end session on November 10, with GDP projected to expand by 6.5%.

After signing 17 Free Trade Agreements (FTAs), Vietnam has been successful in expanding its market to 200 nations and territories, including 50 key exporting countries.

The exchange rate and market volatility, alongside inflation, have been challenging many enterprises in Vietnam regarding domestic consumption and import-export management.

Vietnam aims to become an upper middle-income country with a modern industrial base by 2030.

Credit ratings agency Fitch Ratings has affirmed Vietnam's long-term foreign-currency issuer default rating at 'BB' with a positive outlook.

Several countries are raising interest rates in an effort to curb inflation, even though higher interest rates can push economies into even deeper recession.

Vietnam’s national development space would be divided into six zones, according to Government's Resolution No.138/NQ-CP

The Vietnamese economy has recorded an impressive recovery over the past nine months, and the Asian Development Bank (ADB) is confident of the country’s bright prospects for its medium- and long-term growth.

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.