According to the bank, Vietnam’s trade balance has improved. FDI disbursements have continued to increase, becoming a driver for this year’s economic growth.
HSBC said in a new report that in 2023 the decrease in consumption demand in the US and Europe - Vietnam’s key export markets - will partially impact its production and exports, but the country will likely to be among countries with the highest growth rates in Asia.
Nguyen Hoai Thu, Managing Director and Head of Investment at VinaCapital, said public investment disbursement is expected to increase strongly against last year as the Government is determined to achieve total disbursement of 30 billion USD this year.
“In addition, the reopening of the Chinese market will benefit Vietnam. With a growth rate of 6% as our forecast or 6.5% as set by the Vietnamese government, this growth rate is higher than other ASEAN countries,” said Thu.