Recalls Vietnam reuniting with a firm step towards its 2022 goals (+ VIDEO)

Ho Chi Minh City, formerly Saigon, is today one of the most economically viable cities in Vietnam. Photo: Wonderful Vietnam

Forty-seven years after the fall of Saigon, Vietnam’s socio-economic indicators continue to amaze the world, even in the face of epidemics.

International economic organizations and experts quoted in the Vietnamese media promise The country, which celebrates national reunification on April 30, is heading for a successful economic recovery this year.

Fitch rating by World Bank, International Monetary Fund, Asian Development Bank and consulting firm Economic growth is projected to reach 6.5% in 2022, Adjusted in line with government projections. In the first quarter, the index rose 5.03% year-on-year.

During the same period, the Asian country grew by 6.4% in industrial production, 4.4% in retail sales of consumer goods and services and almost 9% in social investment capital.

Exports and imports increased by 12.9% and 15.9%, respectively, as well as a trade surplus of $ 809 million, which stands alone in the country’s trade performance.

The opening of 34,600 businesses in the first quarter demonstrates the vibrancy of the business and the entrepreneurial spirit that remains among Vietnamese during difficult times.

Investing in road infrastructure is one of the economic objectives of the country this year. Photo: VNA

“Given the current pace of the Vietnamese economy and the opening up of the Vietnamese economy, these growth rates are encouraging and reasonable indications,” said Lu Chuan Chang, deputy director of the Vietnam Economic Association.

“In the context of rising input prices due to the Russia-Ukraine conflict, these achievements demonstrate the efforts of the Vietnamese government and businesses to move the national economy forward,” he added.

For his part, Le Duy Binh, Managing Director of the Center for Economic Research in Vietnam, said, “The 5.03% increase in GDP in the first quarter of this year shows that our economy is recovering well, and active policies and flexible adaptation to the corona virus and widespread vaccination have worked.

According to the economist, “these are game-changing factors that will get the economy back on track and lay a good foundation for the coming year.”

Both Vietnamese companies, the government, the business community and the population as a whole point out that the average growth rate should reach 7% in the second, third and fourth quarters, reaching the target of 6.5%. Year.

Vietnam has been able to lift 10 million people out of poverty in a decade. Photo: VNA

Encouraging results in the fight against poverty

Over the past decade, Vietnam’s poverty reduction rate has fallen from 16.8% to 5%.According to the World Bank, more than 10 million people were able to cope with this situation.

According to the Vietnam Poverty and Gender Equality Assessment Report for 2022, released in Hanoi on April 28, the indicators show that Vietnam is on the right track with significant changes in the economy and society.

The World Bank has said In less than half a century since the end of Vietnam, socio-economic progress has been unprecedented. War, progress in all spheres of population. Talking about nearly 100 million people is admirable.

According to the report, GDP per capita increased from $ 481 in 1986 to $ 2,655 in 2020.

The attraction of foreign direct investment is a fundamental axis in Vietnam’s national development strategy. Photo: Wonderful Vietnam

Investments, strategic purpose

The attraction of foreign investment is a fundamental axis in the national development strategy.

Vietnam attracted more than $ 10.8 billion in foreign direct investment (FDI) in the first quarter of this year.Almost 12% less year on year.

The decline was recorded in new projects (down 56.3%) as start-ups received 92.5% more capital than in the same period of 2021, while share purchase increased by 74.5%.

Foreign capital was mainly invested in the processing and manufacturing sector, $ 6.2 billion, which is 57.2% of the total foreign direct investment. Investments in real estate continued, at $ 2.8 billion (26.1%). It is estimated that more than 21 sectors received foreign direct investment during this period.

Meanwhile, Vietnamese companies have invested over $ 327.72 million overseas from January to April 2022.

Indochina is one of the best tourist destinations in the world today. Photo: Wonderful Vietnam

In 2021, despite the epidemic, FDI in Indochina totaled $ 32 billion, almost 10% more than the previous year.

Of the 106 countries and territories that invested in Vietnam, Singapore stood alone ($ 10.7 billion, a third), followed by South Korea (approximately $ 5 billion) and Japan (approximately $ 4 billion).

Focuses on economic development along with social progress, The Vietnamese are advancing in their doi moi or renewal, a process that began in 1986 with the aim of unleashing the productive forces, harnessing all the potential of society in national development and promoting the country’s international inclusion using the benefits of globalization. .

With a dynamic and adaptive market economy moving towards socialism, Vietnam today is restructuring government institutions, the monetary and financial markets, public investment, to maintain its macroeconomic stability, reduce inflation and increase competitiveness.

As our Jose Marti called it in his glorious writing of 1889, the land of the Anamites, from a very poor country, destroyed by the brutality of war, has become one of the few countries with real potential as a middle-income nation. Meet the Millennium Development Goals. Everything separates us from that April 30, 1975, in a very short period of less than five decades.

Ho Chi Minh City. Photo: Wonderful Vietnam

In the video, the Vietnam News Agency reports: Vietnam is approaching its 2022 economic goals

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