Vietnam is an important link in the global supply chain

(PLO)- Many experts expressed that Vietnam will continue to be an important link in the global supply chain and a destination chosen by many businesses.

On February 28, in Hanoi, a seminar was held Update the world economic and financial outlook in 2023 and its impact on Vietnam. The event was jointly organized by the Ministry of Foreign Affairs and Standard Chartered Bank (SCB).

Commenting on Vietnam’s economic prospects, Mr. Tim Leelahaphan, economist in charge of Thailand and Vietnam, Standard Chartered Bank, said that following the growth recovery momentum in 2022, Vietnam’s economy will increase. strong growth with GDP growth rate reaching 7.2% in 2023 and 6.7% in 2024.

According to experts, Vietnam will continue to be an important link in the global supply chain. Photo: VT

Expected inflation in 2023 to increase by regarding 6%; trade balance can be improved; however exports will face global challenges. Vietnam’s economy in the first half of 2023 still faces some macro risks such as inflation, public debt, and confidence recovery, but the prospect of recovery is positive in the second half of the year.

Vietnam’s medium-term outlook remains positive. Vietnam will continue to be an important link in the global supply chain and a destination chosen by many businesses.

Regarding the prospect of the foreign exchange market, Mr. Divya Devesh, Head of Research for ASEAN and South Asia, said that at present, the world needs to pay attention to two factors.

The first is the impact of the USD still being a currency with high interest rates and affecting global foreign exchange. The second is to assess the possibility of a recession in the US, although currently there are positive signals, the challenges may return by the end of 2023.

Ambassador-Head of the EU Delegation to Vietnam, Deloitte Leaders and many economic experts all emphasized that Vietnam needs to promote green trade and comprehensively support sustainability goals in the context of accelerating the implementation of commitments. to promote digital transformation, green transformation associated with environmental criteria is a mandatory trend for most countries.

Therefore, Vietnamese enterprises need to take appropriate preparation steps to catch up with this inevitable trend (renovating thinking, changing management methods, building green export strategies…).

“Vietnam has medium and long-term development prospects, offering growth potential and attracting investment. Vietnam is playing an increasingly important role in international trade and global supply chains. As a leading international bank, we are always striving to support Vietnam’s recovery and sustainable growth in 2023 and the years to come” – Ms. Michele Wee, General Director, Standard Chartered Bank Vietnam confirmed.

2 growth scenarios of Vietnam’s economy in 2023

(PLO)- In 2023, the Government will give priority to maintaining macroeconomic stability, controlling inflation, promoting growth, and ensuring major balances of the economy.

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