Deputy Minister of Planning and Investment Tran Quoc Phuong.

Growth is forecast at 8% for 2022 in the absence of unexpected external impact on the national economy, the Ministry said. 

Deputy Minister Tran Quoc Phuong predicted that Vietnam’s economy will see intertwining opportunities and difficulties in the near future.    

“If major economies take strong action to curb rising inflation, it will likely lead to recession, which will take a lot of time and effort to tackle,” he said.

“As our economy’s openness is large, it’s vulnerable to global inflation. We should also be well prepared to cope with natural disasters and epidemics.”

The Ministry of Planning and Investment forecasts next year’s GDP growth at 6.5%, according Deputy Minister Phuong.