Optimistic about Vietnam's economic outlook

The International Monetary Fund (IMF) assesses Vietnam as one of the economies contributing the most to the region's positive growth.

In its recently released Asia- Pacific Economic Outlook report, the International Monetary Fund (IMF) assessed Vietnam as one of the economies that contributed the most to the positive growth of the region. Previously, many international financial institutions also gave optimistic assessments about Vietnam's economic prospects this year.

Quarterly economic updates from international organizations all emphasize the rapid recovery of Vietnam's export momentum. According to S&P Global, Vietnam's April PMI reached 50.3 points, indicating a rise in new orders and output. This signal is also clearly reflected in the 4-month export figure of over 123 billion USD, up 15% over the same period.

Ms. Dorsati Madani - Economist, World Bank in Vietnam said: "The first quarter was as we predicted before, with exports growing and recovering. We see positive signals from major markets such as the US, with the US economic growth forecast at 2.3% this year. This is a large consumer market for Vietnam's exports. Therefore, the export outlook will continue to be positive."

Mr. Paulo Medas - Head of the Vietnam Macroeconomic Advisory and Monitoring Delegation, International Monetary Fund commented: "Export turnover has grown well, which is positive and will support overall growth well. It is also important to note that personal and household consumption spending is not as high as expected. Therefore, in the rest of the year, exports will continue to increase strongly and it is hoped that domestic demand will also increase."

Vietnam is a destination for foreign investors

The trade advantage is also strengthening Vietnam's position as a destination for foreign investors. Total FDI capital in Vietnam in the first four months of the year reached nearly 9.3 billion USD, up 4.5% over the same period, of which realized FDI capital increased by 7.4%, the highest in the same period in the past 5 years, showing increasing investor confidence.

Mr. Dominik Meichle - Chairman of the European Business Association in Vietnam said: "The survey from our Q1 business confidence index report shows a positive change in sentiment in the coming quarter for the economy in general. The level of optimism increased by 6 points compared to the previous quarter to 45%, while the level of pessimism was only 10%. More than half of the surveyed businesses predict that the number of orders and revenue will be higher in the second quarter of this year".

The reports also emphasized the Government's flexible and proactive economic management, focusing on supporting growth. Notably, fiscal policy and public investment promotion are proving effective, consolidating the recovery.

Mr. Shantanu Chakraborty - Country Director of the Asian Development Bank (ADB) in Vietnam commented: "The main driving force to ensure growth of 6% or more this year will be public investment. Promoting public investment will increase the quality of infrastructure projects with an amount of over 27 billion USD planned to be disbursed this year. We appreciate the Government's determination to disburse over 95% of the capital plan, strongly promoting capital allocation and disbursement from the beginning of the year".

However, according to international organizations, in the context of remaining external risks such as geopolitical instability, inflation, and global exchange rate fluctuations, Vietnam needs to ensure the stability of the banking sector, including strengthening the management of potential risks related to bad debt.

According to VTV.VN

Source