Illustrative image (Photo: VNA) Hanoi (VNA) – There are many driving forces for growth for Vietnam in 2022, and the growth target of 6.0 - 6.5 percent for 2022 is quite feasible, according to foreign economists.
In an interviewrecently granted to the Dau tu (Vietnam Investment Review), lead specialist and group headfor the ASEAN+3 Macroeconomic Research Office (AMRO) Luke Hongsaid Vietnam is a trade-oriented economy so the manufacturing sector will beone of its major drivers of growth.
Provided that Vietnam can curb the pandemic and minimise travellingrestrictions, particularly for factories and workers, its manufacturing sector will continue benefiting from a recovery in external demand, resulting in output expansion, even amid thepandemic, he said.
According to Hong, the service sector is another key to achievinga 6-6.5 percent growth this year.
Asked about AMRO’s policy recommendations for Vietnam to ensurestrong growth, he said Vietnam needs to provide greater fiscal support, particularly micro-small, small and medium-sized enterprises andlow-income households. Such support should be reviewed periodically to ensure their suitability and effectiveness.
Hong also suggested accelerating disbursement of public investmentcapital to propel economic growth, especially when the pandemic weighs on thedemand of private sector.
In his view, the expansion of debt restructuring scope and extensionof loan risk provision period is extremely important to ease pressure onborrowers and protect balance sheets of banks during economic recovery.
He said structural reform should be promoted, and more efforts are needed todevelop support industries, thus enhancing Vietnam’s participation in theglobal value chain and improving the added value of its economy.
Illustrative image (Photo: VNA) In an interview granted to the Dau tu, Morriset said he is optimistic about the prospect of theVietnamese economy on two conditions that the Government will well controlfiscal policy and the economy will not be shut down again due to the pandemic.
He pointed out economic risks such as reliance onsituation of countries worldwide and import inflation due to hike in oilprices, thus affecting goods transportation.
At the same time, opportunities are abound, first of all in the field of export, he said, elaborating that 80percent of exporters in Vietnam are foreign-invested ones, who came to Vietnam to diversify their supply chains.
Green economy in adaptation withclimate change also offers plenty of chances, Morriset said, citing the development of solar energy as an example of Vietnam's success in seizing opportunities in this field. According to him, Vietnam can do the same with wind power, battery and other green products./.
VNA
