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, according to Surajit Rakshit, head of Global Trade and Receivables Finance, HSBC Vietnam.

VOV.VN - The Vietnamese Embassy in Italy, working in collaboration with the Rome-based Centre for International Studies (Ce.SI), has held a seminar themed “Dynamics in the Indo-Pacific and the Importance of Italy’s Engagement” to mark the occasion of the 50th anniversary of both nations' diplomatic relations.

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 State budget's revenues from export-import activities hit over VND152.94 trillion (US$6.5 billion) in the first five months of this year, making up 36% of the estimate, down 18% year on year, the General Department of Vietnam Customs (GDVC) reported on June 7.

Vietnam remains an attractive market for retailers as local consumers remain optimistic about the economic challenges and are driving premium purchases.

After decades of development, many family-run groups have begun the power transition process. The next generations have taken over leadership, while veteran businesspeople are retiring from their positions.

Revenue in the luxury goods market in Vietnam will amount to 957.2 million USD in 2023, and grow annually by 3.23% in the 2023-2028 period, according to Statista, a statistics portal for market data.

VinaCapital, Vietnam’s most diversified asset manager, and A.P. Moller Capital, a global fund manager focused on high growth markets, have set up a joint platform to grow and scale investments in transportation and logistics infrastructure in Vietnam.

The engagement of the private sector in green and sustainable growth is crucial for Vietnam to complete its target of achieving net-zero emission and raising the green economy scale to US$300 billion in the total national GDP value in 2050, according to experts.

Standard Chartered Bank has lowered Vietnam’s 2023 GDP growth forecast to 6.5% from the previous 7.2% in its recent macro-economic updates about the country.