In 2023 and subsequent years, it is forecasted that the Vietnamese economy will face many difficulties and challenges.

The growth momentum in 2022 has created the space and conditions for effective monetary and fiscal maneuvering in 2023.

Despite difficulties, the government has been striving for a GDP growth rate of 7 percent, an inflation rate of below 4 percent and a credit growth rate of 14 percent this year.

The July consumer price index (CPI) grew 0.4 per cent from the previous month, contributing to the year-on-year growth of 2.54 per cent in the first seven months of this year, the General Statistics Office (GSO) said on Friday.

Vietnam’s Gross Domestic Product (GDP) in the second quarter of this year was estimated to increase 7.72% year-on-year, higher than the growth rates in the same quarters during the 2011-2021 period.

President Nguyen Xuan Phuc has said that the economic stimulus package needs to be “brought into life” to help people and businesses, and that inflation should not be allowed to “sweep the poor away”.

During the last trading sessions of 2021, the stock market was not particularly active. The effect was being felt of unfavorable news on the macro, the most notable of which was the GDP growth of the whole year at only 2.58%.

The Government has issued Resolution 01/NQ-CP on socioeconomic targets for 2022, following which the Government targets a gross domestic product (GDP) growth of 6%-6.5% and GDP per capita at US$3,900.

Vietnam has set a 6-6.5% GDP growth target and US$3,900 in GDP per capita for 2022 with a focus on COVID-19 prevention and control and economic recovery, said top leaders during an online conference with localities across the country yesterday. 

Pandemic developments remain complicated. Hundreds of thousand of businesses faced difficulties in 2021 after resuming production after lockdown.

Despite facing various difficulties, it remains entirely possible to be optimistic about the outlook for foreign investment attraction moving into 2022, with many commitments regarding investment in major projects being made by foreign investors.

Closing the final trading session of 2021 today, December 31, the VN-Index of the Hochiminh Stock Exchange gained 12.31 points, extending its rally for the second day, as many big-cap stocks moved into positive territory.

Vietnam’s gross domestic product (GDP) in 2021 is estimated to expand by 2.58 percent from the previous year as the COVID-19 pandemic has imposed adverse impacts on all fields of the national economy.

Large economies such as the US, the major partners of Vietnam, are recovering rapidly, which could bring more trade and investment opportunities to Vietnam. But economists have warned of high inflation.

Deputy Prime Minister Le Van Thanh has recently signed a decision approving the National Statistical Development Strategy for the 2021-2030 period, with a vision to 2045.

Seeking capital to help recover production and business is not easy but it’s not the biggest difficulty, experts say. The tougher task is driving money “to the right addresses at the right time”.

The well-studied report with the combined efforts of domestic and foreign experts will enable Vietnam to have a long-term roadmap for the marine economy in the sustainable development strategy by 2030.

If all barriers are removed, Vietnam’s GDP (gross domestic product) in 2021 may reach 2-2.5% in accordance with the optimistic projection.

Vietnam’s GDP growth forecast for this year has been lowered to 2-2.5 percent, according to the World Bank's October 2021 Vietnam Macro Monitoring.