Despite weak global consumer demand, many foreign buyers are still looking to Vietnam for sourcing goods and business cooperation.

The country's attractiveness as a destination for FDI in Southeast Asia with a young, increasingly educated and competitive workforce should help to keep long-term development intact.

In 2022, Vietnam's GDP growth revved up to 8.02%, the highest in 15 years, symbolising a strong recovery from the COVID-19 pandemic, while the Government forecasts that in 2023 the economy will continue to grow at an impressive 6.5%.

The Government's report recently submitted to the National Assembly said that Vietnam has opportunities, intertwined advantages and challenges, but has more challenges.

Agriculture has long been the backbone of Vietnam’s economy for a number of comparative advantages, such as cultivated land, forest cover, sea territories, tropical climate, and available and cost effective labour.

Many reputable international organisations have shown their optimism about Vietnamese economic outlook, predicting that the country can complete its GDP growth target of 6.5% this year.

The sports economy in Vietnam has the potential to rival the tourism and service industry if there are policies that promote a stronger direction and the entry of pioneering financial backers, a major conference heard last week.

While many enterprises have in a recent survey held a negative viewpoint on the economy in the rest of 2023, official data paint another picture.

Amid the global economic recession, Vietnam’s industrial growth in 2023 may experience a slight decline, but agricultural output is expected to increase modestly, according to experts.

Experts have called on to immediately amend the personal income tax (PIT) law which is no longer suited to new circumstances with goods prices increasing sharply.

Prolonged woes hitting enterprises and labourers causing a continued decline in domestic production have triggered a need for more drastic actions to lift businesses out of difficulties.

The number of businesses leaving the market has increased more rapidly than the number of businesses joining and rejoining the market, according to the Ministry of Planning and Investment (MPI).

Vietnam ranked seventh among the top 10 emerging colocation markets globally with a market size estimated to hit 1.5 billion USD by 2026, according to a recent report by KPMG published earlier this month.

Vietnam ranked 16th among the tip 21 richest countries throughout Asia, as compiled by Insider Monkey, a finance website focusing on financial markets, hedge funds, and insider trading.

Vietnam will be a key driver of global trade growth, with its exports projected to reach US$618 billion by 2030, an annual growth rate of 7 per cent, outpacing the global average of 5 per cent by a significant 2 percentage points.

Enterprises want to have a flexible effective monetary policy and to see their demand for capital satisfied. Ensuring liquidity is one of the most important duties of the policy.

During discussions about socio-economic development yesterday morning, National Assembly (NA) deputies agreed that the State and the society should closely support the enterprise community.

Vietnam’s exports of goods could reach US$618 billion by 2030, with the average annual growth rate of 7 percent in the 2021-2030 period.

Total revenue from retail sales of consumer goods and services was estimated at VND519 trillion (US$22.09 billion) last month.

About 80 percent of surveyed businesses say the biggest obstacle to borrowing money from banks is the lack of collateral.