Foreign newspapers highlight Vietnam’s economic outlook
Foreign newspapers have highlighted Vietnam’s impressive success after the World Bank (WB) forecast that its economy will lead Asia with a growth rate of 7.2% this year, up from the previous forecast of 5.3% in April.
Hanoi (VNA) – Foreign newspapers have highlighted Vietnam’s impressive success after the World Bank (WB) forecast that its economy will lead Asia with a growth rate of 7.2% this year, up from the previous forecast of 5.3% in April.
Meanwhile, growth in Asia-Pacific was predicted at 3.2%.
According to WB experts, Vietnam’s success is the result of effective COVID-19 prevention measures, demographical advantages and a privileged position in the regional and global economic structure.
Japan’s Nikkei Asia said Vietnam’s GDP in the third quarter expanded by 13.67% year-on-year as exp🦩orts to the US soared and personal consumption recovered. However, it also warned of falling exports to key markets and continued disruption of global supply chain as risks. Moreover, Vietnam also began producing semiconductor chips at home.
Reuters reported that FPT Semiconductor, a unit of Vietnam's leading tech company FPT, launched its first line of semiconductor chips used for Internet-of-Things in medical devices. The company aims to supply 25 million chips globally by 2023.
Lexology also described Vietnam as an ideal destination to carry out semiconductor manufacturing. The Vietnamese semiconductor market is expected to grow by 6.52% during 2021 – 2025 as more foreign enterprises shifted production to Vietnam due to its strategic location and advantages in shipping, competitive labour and production costs. Vietnam can now benefit from 13 free trade agreements the country is a signatory to.
In tourism, The Star wrote that in the first nine months of this year, foreign tourist arrivals in Vietnam neared 1.87 million, marking a 16.4-fold rise from the same period last year.
Data from the Vietnam National Administration of Tou🍬rism showed that from January-September, the total nu♎mber of domestic visitors hit around 87 million, which underpinned the sector’s growth./.
The Vietnamese economy is likely to grow 10% year on year in the third quarter of this year, driven by strong domestic consumption, according to Michael Kokalari, chief economist at VinaCapital, one of the country’s leading investment management and real estate development companies.
A draft report on Vietnam’s economy was tabled for discussion at a meeting held at the headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris on September 5.
Vietnam’s gross domestic product (GDP) growth in 2022 can reach up to 8%, surpassing the target of 6.5%, according to Director General of the General Statistics Office (GSO) Nguyen Thi Huong.
Vietnam's economic recovery will be stronger in the second half of 2022, particularly as the country resumed its tourism activities after a two-year closure, according to Standard Chartered's latest Vietnam report.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
With rising protectionist policies for the steel industry, and the US imposing tariffs on steel exports, the sector has entered a challenging period. In response, many industry giants are returning to the domestic market.
As the most significant and high-profile event in the global logistics industry, FIATA World Congress 2025 is expected to gather over 1,200 delegates from more than 150 countries.
According to the State Bank of Vietnam (SBV), in the interbank market, the trend of decreasing overnight interest rates has continued, starting at 3.13% in the first session of last week and gradually decreasing over the sessions to 1.67% at the last session of the week. In total, overnight interest rates decreased by 1.46 percentage points within one week.
Huynh Tan Khanh, Secretary of the Party Committee of Ganh Hao, noted that the town strictly follows anti-IUU fishing directives and has partnered with local agencies to organise six awareness campaigns attended by nearly 500 fishermen. Some 130 boat owners and captains have also signed commitments to follow legal requirements and avoid entering foreign waters.
ChatGPT is not yet a threat to the real estate market as it can handle information quickly and effectively, but it’s here to support, not replace, human advisors.
As Vietnam moves forward, ESG, innovation and digital transformation will change the way businesses grow and how they are evaluated. This journey can’t rely on policy alone. It needs strong leadership, the right technology and, most importantly, skilled people who are ready to build a greener, more competitive economy.
Prime Minister Pham Minh Chinh affirmed that science, technology, innovation, digital transformation, green transition, and circular economy are offering limitless opportunities for bilateral collaboration.
The US remained Vietnam’s largest market, accounting for 55% of the country's total wood exports. Key products include wooden furniture, plywood, doors, and handicrafts.
With a clear development strategy, proactive investment attraction and strong policy support for sustainable agriculture, Tay Ninh is positioning itself as a major hub for high-tech livestock farming in the southern region.
As Vietnam’s largest private carrier, Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years.
The Vietnam National Petroluem Group (Petrolimex) had acted early to mitigate risks amidst the recent surge in global oil prices driven by the Israel–Iran conflict, Vietnam News Agency cited a Petrolimex representative as saying.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Illustrative image (Photo: VNA) 
