Vietnam has been evaluated as a bright spot in the region in terms of production and export growth.
Citing the World Bank’s 7.2% growth forecast for 2022, the news website Thailande.fr said: “Vietnam will be the growth engine of Asia”.
“Vietnam is a rare case nowadays, when there is positive economic growth, even during the COVID-19 epidemic, in the current volatile world situation. The main reason, I think, is that. is the timely response of the Government of Vietnam. When the COVID-19 epidemic broke out, the Vietnamese Government had plans, responses as well as policies to support businesses to maintain economic development”, Ms. Valeria Vershinina – Analyst at the ASEAN Center, Moscow Diplomatic Academy said.
The September Vietnam PMI report also showed that, although finished goods inventories increased slightly due to a slight decrease in sales, expectations about market demand and the number of new orders both improved, coupled with confidence that the COVID-19 pandemic will remain under control – these are factors that underpin optimism about the sector’s output outlook for the coming year.
“The operating situation of the manufacturing sector in Vietnam is actually quite favorable compared to many other regions in the world at the moment. Amid slowing and weakening global demand, what customers are looking for is value for money. Inflation is not really an issue in Vietnam at the moment which helps companies to have more competitive prices”, said Mr. Andrew Harker – Chief Economist at S&P Global Market Intelligence said.
The article titled “Vietnam – the promised land of Asia”, published on the French news website “Investment – Investir”, said that, in addition to a highly skilled workforce and a system of trade agreements, helping to remove trade barriers, an attractive factor for investors is also a policy of the Government, giving priority to calling for FDI inflows into high-tech industries, and at the same time meeting the terms of environmental protection.
Mr. Preben Hjortlund – Chairman of the EuroCham Advisory Council said: “The Investment Protection Agreement between Vietnam and the EU will soon be ratified and of course that will increase the interest of European businesses in Vietnam”.
In an article titled “Vietnam and the New Tigers of Asia”, the Swiss economic and financial website Agefi commented: Vietnam is emerging as a manufacturing hub in East and Southeast Asia, supported by Government economic liberalization efforts and deeper integration into global supply chains.
@ Cafef
Related
Source: Vietnam Insider