Most forecasts by foreign investment funds show that Vietnam’s GDP growth is likely to increase 7.5 percent this year.
The re-opening of domestic economy will be the biggest driver of economic growth this year. The stimulus package, including cutting value-added tax from 10 percent to 8 percent, promises to boost domestic consumption.
Recent surveys in the US and some other countries indicate that demand to travel to Vietnam has sharply increased. Therefore, the partial recovery of international tourism is expected to help Vietnam's GDP rise by at least 3 percent this year, and further in 2023 when Chinese tourists return to the Vietnamese market.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) was up in January thanks to the record increase in orders from foreign customers in more than four years. (Photo: VNA)

The manufacturing sector, which makes up over 20 percent of and plays an important role in supporting Vietnam's economy during the pandemic, is forecast to contribute less this year. However, the Vietnam Manufacturing Purchasing Managers' Index (PMI) was up in January thanks to the record increase in orders from foreign customers in more than four years.

According to data from the United Nations, FDI to Vietnam decreased by 3 percent in the past two years, but it decreased by over 40 percent globally in 2020 alone.

In addition, LEGO Group of Denmark, which is known for its commitment to sustainability, will build the company's first carbon neutral factory in Vietnam. This investment will contribute to affirming Vietnam's ESG (environment, social and governance) values and attracting more foreign manufacturers who are prioritising sustainable development.