Vietnam – New growth epicenter

Vietnam – New growth epicenter

Last week, many newspapers and international experts were impressed by Vietnam's growth figures in October and in the first 10 months of this year.

Accordingly, Vietnam’s economy is recovering very steadily and is forecast to become the new growth center of Asia. Reuter newspaper has an article titled “Foreign investment in Vietnam increased sharply”, which confirmed that FDI capital committed to Vietnam increased sharply in October with a value of 5.3 billion USD, more than double double the monthly average of $2.2 billion.

India Time newspaper has an article affirming “Vietnam has become the new epicenter of Asian growth”. This newspaper emphasized that, despite difficulties in 2023, Vietnam has attracted more than 20 billion USD in foreign direct investment in the first 9 months of the year, an increase of 7.7% over the same period last year.

Mr. Anwar Aridi – Senior Expert on Innovation Policy, World Bank assessed: “The growth created in the Vietnamese economy is driven by investments by multinational companies investment and foreign investment (FDI), this is a typical example that needs to be replicated in the region. However, in the future, Vietnam also needs to transform its growth model and find sources of growth. new growth and innovative entrepreneurship are the main sources of growth.

Vietnam's economy is recovering very steadily and is forecast to become the new growth center of Asia. Illustration.

Nikkei Asia assessed that there were signs of economic recovery in the country, which is very sensitive to fluctuations in world demand, when Vietnam’s exports and industrial output in October increased compared to a year ago. before.

Specifically, exports in October increased by 5.9% over the same period last year, while imports also witnessed an increase of 5.2%.

Mr. Sugano Yuichi – Chief Representative of the Japan International Cooperation Agency (JICA) Office in Vietnam said: “We expect the recovery of Vietnam’s economy in the future thanks to the growth of consumption.” domestic market, the strengthening of foreign investment (FDI) flows and the recovery of the tourism industry. We have signed an agreement with the Government of Vietnam to restore and develop socio-economics after the pandemic. COVID-19 epidemic. We hope that this support program will contribute to the recovery of Vietnam’s economy.”

Xinhua News Agency highlights the impressive figure of Vietnam’s total retail and consumer service revenue in the first 10 months of this year, increasing by 9.4% over the same period last year, to 207.5 billion USD. . In October alone, retail and consumer service revenue also increased by 7% over the same period and increased by more than 1.5% compared to September.

According to VTV