The projection is next only to Malaysia, whose growth is estimated at 7.3 per cent this year.
Vietnam’s GDP will likely slow down next year to 6.5 per cent, topping the region and followed by the Philippines at 6.3 per cent.
“Vietnam is doing well,” said AMRO chief economist Hoe Ee Khor.
Though attributing the high GDP growth partly to the low base from last year, Khor said the opening up of the economy, relaxation on pandemic control, increase in domestic demand, recovery in tourism and successful attraction of foreign direct investment (FDI) all contributed to Vietnam’s quick recovery, according to a news agency.
“On top of that, the Government’s policy is quite supportive this year. So, because of all these factors, we expect Vietnam’s economy to grow strongly,” Khor was quoted as saying.
However, he pointed out an external risk of import inflation coming from high oil prices.
He endorsed the Vietnamese central bank’s opinion emphasising that the economy is already recovering strongly and there is no need for monetary stimulus at this point.
ALCHEMPro News Desk (DS)
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