Vietnam needs to take advantage of opportunities to overcome difficulties and keep up with global trends; and create good, better quality foundations in terms of institutions, infrastructure and human resources for breakthrough development, according to an economist.

VOV.VN - Vietnam’s gross domestic product (GDP) expanded by 5.66% in the first quarter of this year, marking the highest growth rate compared to the same period from 2020 to 2023, reported the General Statistics Office (GSO).

Experts gave forecasts on impacts of the global economy on Vietnam and exchanged views on how to manage the macro economy and the domestic gold market at a meeting of the National Financial and Monetary Policy Advisory Council on March 28.

According to the Asia House Annual Outlook 2024, Vietnam's economy is likely to continue to outperform its regional neighbours through 2024, with its manufacturing and export industries drawing significant inward investment, given the openness of the economy and the strength of its fundamentals.

2023 continues to be a tough year for the world economy as COVID-19 pandemic has still taken heavy tolls while a series of new challenges have emerged, including geopolitical conflicts, tight monetary policies in major economies and world economic slowdown.

The latest Economic Insight report for Southeast Asia, commissioned by the Institute of Chartered Accountants in England and Wales and Oxford Economics, forecasted that Vietnam's economy to grow by 4.7% in 2023.

Public investment, domestic consumption, and export recovery will be the three main growth drivers of Vietnam's economy in 2024, the Asian Development Bank (ADB)’s Country Director for Vietnam Shantanu Chakraborty has told the Vietnam News Agency.

Andrea Coppola, World Bank Lead Economist for Vietnam, has described Vietnam in 2023 as resilient, saying that amid the global economic slowdown, the Southeast Asian nation was still able to sustain a rate of growth that many other countries in the rest of the world can only dream about.

VOV.VN - The latest data compiled by the General Statistics Office (GSO) highlights some bright spots in the Vietnamese economy over the past 11 months with a trade surplus of US$25.83 billion, FDI attraction of US$28.85 billion, and 146,044 newly-established businesses.

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%.