Vietnam’s growth prospects remain much dependent on the effectiveness of vaccination programs, restriction measures, and the implementation of supporting policies.

The most important point in the Government’s new stance is guaranteeing the operation of businesses in any Covid-19 circumstance as long as they fully comply with anti-Covid-19 measures.

Vietnam continues to benefit from exports thanks to its participation in several major trade deals, the positive foreign investment capital inflows, and the reopening of the tourism sector for foreign tourists.

A GDP growth of 6.5% for 2022 would be a challenge given the global uncertainties and inflationary pressure from rising key commodities prices in international markets.

In the medium term, Vietnam’s vision to become an upper-middle-income economy will depend on its ability to evolve from its current growth model to productivity and innovation-led growth model.