Foreign experts highlight Vietnam’s production, export strengths

There is still large room for Vietnam to continue increasing the export of goods, especially when both Vietnam and Mexico are signatories of the CPTPP.

The Vietnamese economy is likely to gradually recover from the fourth quarter of 2021 and escape the minus growth seen in the third quarter thanks to the activeness of the business community and the Government’s efforts to remove obstacles facing enterprises.

Despite a reduction of 6.17 percent in GDP of Vietnam in the third quarter of this year due to COVID-19 impacts, the Asian Development Bank (ADB) and other financial institutions still remain optimistic about the Vietnamese economic prospects in the medium and long term.

The optimism is based on the recovery of domestic demand, coupled with the strong consumption power of the nearly 100-million strong market, the country’s stable macro-economic situation and the dynamism of the economy.

Vietnam is also a member of many large-scale multilateral and bilateral trade agreements.

At the same time, the Government has rolled out measures to speed up the disbursement of public investment capital, thus improving the capacity of the economy and the infrastructure system.

Investors have shown confidence in the Vietnamese investment environment, which can be seen in a rise in foreign direct investment (FDI) inflows into Vietnam despite a drop of 30 percent in FDI flows around the globe.

I highlight the Government and localities’ efforts to accompany the business community in difficult times.

The Government’s drastic directions in speeding up the disbursement of public investment capital have contributed to making up for the slow growth of the business sector.

Despite serious impacts of the COVID-19 pandemic, foreign investments in Vietnam in the first nine months of 2021 rose, showing investors' trust and optimism about the country’s socio-economic recovery and development in the coming time.

Vietnam continues to be a safe, attractive and potential destination for foreign investors!

Over the past time, the Government, the Prime Minister, ministries, sectors and localities have made efforts and taken drastic measures for the highest goal of effective pandemic prevention and control, and effective support for production and business of enterprises.

The Government and local authorities are supporting people in the fight against COVID-19, thus demonstrating the spirit of overcoming difficulties, adapting to the new situation, maintaining production, and creating jobs for labourers.

This shows the confidence of foreign investors in Vietnam’s business environment and the effectiveness of solutions taken by the Government and the Prime Minister.

The FDI business community has appreciated the Government's response to the pandemic, expressed optimism about Vietnam's economic recovery, and committed to continuing to invest and do long-term business in Vietnam.

To make FDI enterprises feel secure, the Government has made recommendations to the Party or submitted to the National Assembly and the National Assembly Standing Committee to promulgate many important policies.

The Government has also issued a number of decrees and thematic resolutions on land rent exemption and reduction and on support for enterprises, cooperatives and business households, as well as workers and employers.

Besides negative impacts, the pandemic is also an opportunity for Vietnam to continue perfecting its institutions, improving governance capacity, and the business and investment environment.

Research and policy discussions shared the view that the world economic growth recovery is still under the influence of three main risk groups, including complicated developments of the COVID-19 pandemic, geopolitical competition, and inflation and debt risks.

Vietnam needs to strengthen its resilience through a strong and flexible social assistance system, it said, recommending allocating more capital social assistance programme.