Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Country financeApril 28 2023

Vietnam’s economy takes a double hit

Peter Janssen explores the challenges facing Vietnam’s domestic environment, including its heavy dependence on exports to the US and tourists from China, as well as rising problems in its real estate sector.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Vietnam’s economy takes a double hit Bouncing back: Vietnam’s GDP growth is projected to reach 6.3% next year, according to the World Bank

Vietnam weathered the Covid-19 pandemic better than most south-east Asian economies, with gross domestic product (GDP) growth above 2% in 2020/21. It hit 8% in 2022, up from a low base, and is projected to reach 6.3% next year, according to World Bank estimates.

The government managed to keep the economy ticking over without resorting to massive relief programmes that would have raised public debt. Public debt has, in fact, fallen from 44% of GDP in 2018 to about 40% last year — thanks in part to a repositioning of the GDP number in 2019. But policy-makers, state enterprises and the emerging corporate sector face real challenges in 2023.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial