Foreign direct investment (FDI) is considered one of the pillars for economic growth this year.

Vietnam’s GDP growth is forecast to reach 7.2% this year. This is new information given in the discussion “Updating the world economic and financial outlook in 2023 and impact on Vietnam”, jointly organized by the Ministry of Foreign Affairs and Standard Chartered Bank.

In addition, in a recent report from HSBC bank, Vietnam is forecast to be the country with the highest growth prospect in the region in the first quarter of this year. To be able to maintain macroeconomic balance, foreign organizations also recommend a number of main priorities for Vietnam.

Standard Chartered Bank said that, following the recovery momentum of 2022, Vietnam’s economy will grow by 7.2% this year and 6.7% in 2024. The second half of 2023 is considered to have bright prospects. thanks to the recovery of the tourism industry.

“The second half of this year will likely see the Chinese economy recover faster than expected. This will cause exports to improve. The opening of tourism will also help the service industry grow again. We believe in Vietnam’s strong development potential in the medium term,” said Mr. Tim Leelahaphan, economist in charge of Thailand and Vietnam, Standard Chartered Bank.

Foreign direct investment (FDI) flows are also identified as one of the pillars for economic growth this year. According to HSBC, in fact, Vietnam is considered a typical example of having participated deeper into the global value chain quite quickly, thanks to the spillover effect from FDI capital to manufacturing industries in the world. water.

“Stable FDI sources even in the context of global financial tightening greatly support Vietnam in maintaining growth momentum. In 2022, Vietnam and Malaysia will be two more prominent countries in the region in attracting FDI and this advantage will continue to be maintained this year. In particular, Vietnam is in a better position than other countries in the region to attract foreign capital for green projects thanks to trade agreements with the UK and Europe,” said Ms. Yun Liu, market economist. ASEAN, HSBC Bank, commented.

However, Vietnam still pays attention to controlling inflation. Especially when the average CPI consumer price index in the first 2 months of this year, according to the General Statistics Office, increased by 4.6% over the same period in 2022.

“In the case of Vietnam, we expect inflation to peak in the first quarter of this year and then decrease. Domestic consumer demand may still increase from now until the end of the year but will not be too strong, because it follows the general global trend. This will partly create conditions for Vietnam’s inflation control,” said Ms. Katrina Ell, an economist at Moody’s Analytics.

Experts also recommend that, with global economic risks still lasting until the middle of this year, the management of macroeconomic policies needs to remain flexible and cautious.