International media commend Vietnam’s economic growth

Several foreign news agencies and media groups have hailed Vietnam's booming economy with a GDP growth rate of 8.02% this year.

According to asiafinancial.com, the Asian Development Bank (ADB) believes that Vietnam's economy is growing well in the context of global economic uncertainty and challenges.

Singapore’s straitstimes.com commented that Vietnam’s economy grew at the fastest pace in Asia this year. The US’s CNN called it the fastest growth rate since 1997, while the UK’s BBC stressed that it was the highest growth posted from 2011-2022, the main driver of which was the export sector and strong retail sales.

According to Russia’s Sputnik news agency, thanks to this miraculous economic growth, low inflation, booming imports-exports, political stability and brilliant diplomatic successes, Vietnam had emerged as one of the rare spotlights in the gloomy landscape of recession and crisis covering the world.

It quoted the World Trade Organisation (WTO) ranking as saying that, Vietnam has continuously been named in the group of 30 countries and territories with the biggest trade value globally. In particular, while many ASEAN countries have not moved up in the rankings in recent years, Vietnam has leapt with a total trade value of over 700 billion USD this year.

Bloomberg said in the fourth quarter of 2022, Vietnam’s economy grew faster than expected this year, signalling momentum towards a recovery following the pandemic.

The better-than-expected showing gives Vietnam’s central bank the space to wait and watch, before deciding to pivot monetary policy away from tightening, it added.

However, Reuters and Hong Kong’s asiafinancial.com, though the economy in 2022 grew at the fastest pace in many years, economists warned it is facing headwinds ahead, with weakening global demand having already impacted shipments.