Economy could grow at 6.83% this year: think tank

It suggested two possible scenarios, with the other being growth of 6.47%, closer to the 6.5% target set by the government.

The more optimistic one could be achieved if the country continues with rapid reform and increases productivity, it said.

This year’s economic outlook depends on factors such as the ability to control the spread of Covid variants, the extent of monetary tightening in major economies to combat inflation, the Russia-Ukraine conflict, and the ability to diversify export markets and take advantage of new generation free trade agreements, it said.

It called for improving the policy framework to foster innovation and trying new business models amid digital transformation and green transformation.

HSBC, the World Bank and Standard Chartered Bank have forecast growth of 5.8%, 6.3% and 7.2%, year.
Vietnam’s GDP grew at 8.02% last year, albeit from a low base in 2021, backed by strong domestic retail sales and exports.