Foreign media agencies give positive forecast on Vietnamese economy
VOV.VN - Many foreign news agencies on September 29 reported on the nation’s economic growth data, as well as predicting that the recovery process would pick up in the near future.
French news agency Agence France-Presse (AFP) quoted data from the General Statistics Office (GSO) of Vietnam as saying that Vietnamese economic growth in the third quarter of the year reached 5.33%, along with figures from the GSO which show that lending interest rates have decreased. In addition, tax revenue and public investment has increased, thereby creating a positive impact on the economy.
Nikkei Asia said the country’s economic growth is improving partly thanks to the recovery of the tourism industry. The service sector has also helped to boost economic output over the past three months, with the main driver being the recovery of the retail and tourism sectors. These sectors are expected to contribute 40% of Vietnamese Gross Domestic Product (GDP).
Tourists have returned to famous tourist destinations across the country such as Da Nang, with the number of foreign travelers coming to the nation between July and August reaching 2.25 million, far surpassing the 1.27 million mark from July to September last year.
Furthermore, Nikkei Asia quoted official statistics which indicate that the Vietnamese manufacturing industry is in the process of recovering. The industrial production index has grown again since May to mark the fifth consecutive month of growth in September.
Overall, the first nine months of the year saw the industry's added value soar by 1.65% over the same period from last year.
Meanwhile, Xinhua News Agency also cited official GSO data, stating that from the beginning of the year to September 20 the country attracted nearly US$20.21 billion in foreign direct investment (FDI), representing an increase of 7.7% on-year.
Vietnamese economic growth is expected to slow down to 5.8% this year and 6.0% ahead in 2024, compared to the forecast in April of 6.5% and 6.8%, respectively, mainly due to weak external demand.
However, Shantanu Chakraborty, country director for Vietnam of the Asian Development Bank (ADB), said that the Vietnamese economy remains resilient. Indeed, recovery is expected to pick up in the near term, driven by strong domestic consumption and supported by moderate inflation, an acceleration of public investment, and improved trade activities,
Experts also note that the textile, footwear, and electronics industries still face numerous difficulties in achieving the growth target of 6.5% this year. This is due to reduced export demand.
