Vietnam’s economy has made good recovery since the beginning of this year; however, inflation risks could weight on the country’s growth outlook, according to experts.

Foreign investors have increased their net buying since the end of September, indicating that they still see the bright prospects of Vietnam’s economy and find its stock market attractive in the medium and long term.

Prime Minister Pham Minh Chinh affirmed that businesses and entrepreneurs play a crucial role in the cause of national construction and development when he chaired a hybrid meeting between permanent cabinet members and outstanding businesspeople in Hanoi on October 11.

President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong on October 11 called on associations and businesses to pool resources to enhance competitiveness and boost innovation to become a core force in implementing industrialisation and modernisation, and building an independent, self-reliant and prosperous economy.

Experts have emphasised the need for Vietnam to exert great efforts in the last three months in order to reach the yearly growth target of 6%.

The ASEAN+3 Macroeconomic Research Office (AMRO) has just revised the growth forecast for Vietnam’s economy in 2023, increasing it to 4.7% from the previous 4.4% stated in the July report.

VOV.VN - Vietnam’s economic growth is predicted to expand by between 9.3% and 10.6% in the fourth quarter, thereby achieving annual GDP growth of 5.8% to 6% providing that growth drivers are fully tapped into and the global market rallies, according to economic experts at the Bank for Investment and Development of Vietnam (BIDV).

VOV.VN - Vietnam’s real economic growth is expected to slow to 4.7% this year before recovering to 5.5 % in 2024 and 6.0 % in 2025, according to Vietnam’s Macro and Poverty Outlook released by the World Bank on October 2.

VOV.VN - Although Vietnam’s nine-month growth rate stood only higher than those seen in the same period in 2020 and 2021 over the past 12 years, it has shown the gradual recovery of the local economy on a quarterly basis, with the growth of 3.28% recorded in quarter I, 4.05% in quarter II, and 5.33% in quarter III.

VOV.VN - The Vietnamese economy has shown signs of improvement and positive recovery, Prime Minister Pham Minh Chinh said, while asking localities and ministries to devise effective solutions in all fields so as to maintain growth momentum ahead in the remaining months of the year.