The rebound will be driven by a return of strong foreign direct investment (FDI) into the market, mainly focusing on the manufacturing sector, he noted, adding it would benefit Vietnam's exports, especially as free trade agreements that have been signed over the past two years start to bear fruit.
Meanwhile, the World Bank (WB) said in the December edition of its Vietnam Macro Monitoring that Vietnam’s economic conditions continued to improve, with both industrial production and retail sales registered a third month of growth.
Merchandise exports hit a record high of nearly 32 billion USD in November, helping maintain a second consecutive month of trade surplus while FDI commitment recovered after a brief dip in October, according to the report.
Inflation ticked up due to fuel price hikes, recovering non-food domestic demand and rising logistic costs while credit growth remained stable, providing amble liquidity to support the economy recovery.
The CPI rose by 2.1% year-on-year, but well below the 4% target set by the State Bank of Vietnam, the WB report said.