Public investment expected to propel Vietnam's long-term growth
(VOVWORLD) -With growth-supportive policies through monetary easing and a substantial volume of public investment expected to be disbursed in 2023, Vietnam will be able to cope with current challenges such as the global economic recession and geopolitical tensions, said Andrew Jeffries, Country Director of the Asian Development Bank (ADB) in Vietnam.
 Processing shrimps for export (Photo: VNA) |
He forecasted that Vietnam's economic growth will slightly drop to 6.5% this year and increase to 6.8% in 2024. Public investment will be a key driving force for stimulating recovery and economic growth in 2023 and 2024, as well as boosting Vietnam's construction sector and other related economic activities.
Meanwhile, Country Director for World Bank (WB) Vietnam Carolyn Turk said Vietnam's economic growth in 2023 could reach 6.3% and rebound to 6.5% in 2024 due to favourable conditions for a faster global growth recovery which may occur sooner than expected, which could boost exports and contribute to an overall increase in economic growth.