Great efforts made to recover socio-economic development

After determining that the vaccinations would be a key and decisive fighter in fighting the pandemic, heads of the party state government and national assembly all engaged in a vaccine diplomacy campaign. Prime Minister Pham Minh Chinh called for every effort to be made to have as many vaccines as possible to save lifes. Such efforts help Vietnam return to normality sooner. In order to recover and develop the economy post pandemic, the government probably developed a number of programs plans and measures. With contributions from the government, the people and business, Vietnam achieved impressive results. Its economic growth reached 5.03% in the first quarter of this year and 7.72% in the second quarter, the height second quarter growth in more than a decade. Growth in the first half was 6.42 %. 

In the first eight months of the year, Vietnam post a trade surplus of 3.96 billion dollars with export earning the country nearly 251 billion dollars. Vietnam can achieve its growth target in 2022 because of its effective control of Covid-19, the economy recorded  a relatively high growth in the first half of the year. 

Thanks to that achievements, international financial institutions made positive forecasts or adjusted their forecasts on Vietnam growth. Most expect the the economy to grow 6.5% or more both this year and in 2023. The World Bank forecast growth of 7.5% this year.  Foreign investor confidence in Vietnam was strengthened with foreign direct investment inflows in the first eight months, rising 10.5% to 12.8 billion dollars. Foreign investors from Japan, Germany, the Republic of Korea and elsewhere continue to affirm the belief and expectation in the growth potential that Vietnam’s economy holds.

The figures show that both domestic and foreign investors greatly appreciate Viet nam's investment environment. They remain hopeful about the country's economic growth.

Such efforts have to Vietnam returned to normality sooner, the government decided to reopen the country's borders on March 15th, officially welcoming International visitors back to Vietnam. This decision contributed to reviving the tourism industry,  a spearhead economic sector in the country. Vietnam welcome more than 1.44 million foreign arrivals in the first eight months of this. As the region and the world were emerging from Covid-19. Vietnam pulled out all stops and optimize all possible resources to overcome a range of difficulties and challenges to hold a successful Seagame 31th in May, leaving an indelible impression on the hearts of international athletes and friends. This positive results shares Vietnam’s economy is recovering strongly and that major efforts have been made by the entire political system.

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