Vietnam riding out rough year, expects to clock up to 6.5% growth in 2022

Hanoi

WHEN Vietnamese Prime Minister Pham Minh Chinh addressed the opening of the second session of the 15th National Assembly last week, he provided an insight into the government's thinking on the current state of the economy.

The key takeaway from his speech was that gross domestic product (GDP) is expected to grow by between 6 and 6.5 per cent in 2022 - higher than the expected growth of between 3 and 3.5 per cent for this year.

The projection for 2022 is based on a range of macro-economic factors.

The Covid-19 pandemic

When Covid-19 first started to make its way around the world in early 2020, Vietnam responded quickly.

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Borders were closed, quarantine facilities were swiftly erected and isolated lockdowns were implemented. As a result, for th…