|AMRO revises Vietnam's 2023 GDP upward despite regional slowdown.
According to the AMRO, in 2023, ASEAN+3 including ASEAN and China, Japan, and South Korea, faced geopolitical risks, inflationary pressures and disruptions to global supply chains. But China's recovery could provide an impetus for overall growth in the region.
The AMRO forecast ASEAN growth will reach 4.6% this year while China, Japan and South Korea will grow 4.4% and ASEAN 4. 6%.
China's growth is forecast to reach 5.3%, the highest among the three countries, while Vietnam will have the best growth in ASEAN with a growth rate of 6.2%.
The AMRO has recommended that countries continue to implement tight monetary policies to control inflation and stabilize the macroeconomy.
Nguyen Hai Minh, Deputy Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said: "In recent EuroCham surveys on the Doing Business Index, Vietnam has always been selected as the top destination for investment by European businesses against other regional countries. It is because Vietnam has a lot of potential from the geographical location to the openness of free trade agreements, as well as its involvement in the supply chain, its human resources, and its sustainable development and green growth strategy."