Vietnam to become “new Asian tiger”: Italian journal

Vietnam may become a “new tiger” in Asia, commented Italy’s La Repubblica daily after the World Bank raised the Southeast Asian country’s growth forecast.

The journal cited data from the World Bank East Asia and Pacific Economic Update showing that the region may record growth of 3.2% this year and 4.6% next year.

Vietnam is predicted to lead the region with growth of 7.2%, higher that the bank’s earlier forecast of 5.3%. The bank also gave growth forecast for other regional countries, including Malaysia (6.4%), the Philippines (6.5%), Indonesia (5.1%), and Cambodia (4.8%).

Basing on this statistics, La Republica held that the new Asian tiger in 2022 will be Vietnam.

Analysts asserted that factors promoting the growth of Asia, except China, include the ending of restriction measures to prevent the COVID-19 pandemic, the reopening of borders, and the resumption of consumption and industrial production.

At the same time, the rise in commodity prices due to the global energy crisis also has a role to play in boosting the region's export-dependent economies, they said.