Hai Phong sea port. (Photo: An Dang/ VNA)

Dr. Leung said that in 2022, despite the global geopolitical situation, the Vietnamese economy rebounded as the country transitioned from a policy of ‘zero COVID-19’ to ‘living with COVID-19’, and GDP grew a surprising 8.03%.

FDI disbursements rose to 10 billion USD in the first half of 2022 — the biggest increase in five years. Foreign investments in manufacturing, particularly in electronics, continued to grow rapidly in 2022. Many international companies like Samsung either relocated to Vietnam or significantly expanded their existing plants in Vietnam.

This year, possible recessions or economic slowdown in Vietnam’s three major trading partners — the United States, the European Union, and China — are raising  serious questions for 2023, when the growth rate is projected to fall to 6.3%.