Vietnam has been rated 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 today, 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 and policies to support companies to sustain economic development,” said Ms Valeria Vershinina – analyst at ASEAN Center, Moscow Diplomatic Academy.
The September Vietnam PMI report also showed that while finished goods inventories rose slightly due to a slight drop in sales, expectations about market demand and new orders were both improving, coupled with confidence that the COVID-19 -19 pandemic will remain under control – these are factors supporting optimism about the sector’s output outlook for the coming year.
“The operational situation of the manufacturing sector in Vietnam at the moment is actually quite favorable compared to many other regions in the world. Amid slowing and weakening global demand, customers are seeking value for money. Inflation is not really an issue in Vietnam right now, which helps companies to have more competitive prices,” said Mr. Andrew Harker – Chief Economist at S&P Global Market Intelligence.
The article titled “Vietnam – Asia’s Promised Land”, published on the French news website “Investment – Investir”, said that, in addition to a highly skilled workforce and a system of trade agreements, which help to remove barriers to trade, an attractive factor for investors is also a government policy, giving priority to soliciting inflows of FDI in high-tech industries while meeting the conditions of environmental protection.
Mr Preben Hjortlund – Chairman of the EuroCham Advisory Board said: “The Vietnam-EU Investment Protection Agreement will be ratified shortly and that will of course increase the interest of European companies in Vietnam”.
In an article titled “Vietnam and the New Tigers of Asia,” Swiss economic and financial website Agefi noted: Vietnam is developing as a manufacturing center in East and Southeast Asia, supported by government economic liberalization efforts and deeper integration into global supply chains.
@ cafefu
