Despite near-term trade headwinds, tourism has emerged as a source of growth for Vietnam to mitigate the challenges ahead in 2023, according to the “Vietnam at a glance” report released by HSBC on February 6.

VOV.VN - As a means of attracting more foreign direct investment (FDI), the nation needs to pay greater attention to training high-quality human resources, promoting administrative reforms, and developing and upgrading infrastructure, according to the European Chamber of Commerce (EuroCham).

Foreign experts have dubbed the Vietnamese economy as a miracle in Asia and a bright spot of economic growth in Asia-Pacific as a result of the Vietnamese Government’s sound and effective economic management policies.

VOV.VN - Following Vietnam’s full reopening, HSBC experts have moved to raise the Vietnamese GDP growth forecast for this year to 8.1%, although they also lowered the country’s growth forecast for 2023 to 5.8%.

VOV.VN - Prime Minister Pham Minh Minh Chinh requested cabinet members use their vast experience to properly assess the situation and devise appropriate objectives, tasks, and solutions to successfully achieve the set goals by the end of the year.

The local banking sector, currently undergoing drastic restructuring, will have more opportunities to improve its financial capacity, learn modern business models and management from UK partners after the UK-Vietnam Free Trade Agreement (UKVFTA) takes effect, according to banking insiders.

Representatives from foreign-invested businesses and business associations frankly pointed out shortcomings and obstacles, and proposed solutions to promote development in Vietnam at a hybrid meeting with Prime Minister Pham Minh Chinh on September 17.

VOV.VN - Export growth during the first half of the year stood at 17% from the same period in 2021, however, according to forecasts made by HSBC, Vietnamese exports in the second half of the year will struggle to meet expectations.

VOV.VN - Major foreign financial institutions such as IMF, ADB, and AMRO have made different forecasts on Vietnamese inflation this year, although they all anticipate the figure to hover around 4%.

HSBC Vietnam and other financial institutions have agreed to provide a syndicated loan worth US$700 million, with a greenshoe option of US$300 million, for the Vietnam Technological and Commercial Joint Stock Bank (Techcombank).