Impressive numbers of Vietnam’s economy affirming her Party’s leadership

 


In 2022, Vietnam's GDP growth reached at 8.02%, exceeding the yearly target of 6 to 6.5%. Inflation was kept at 3.15%. Foreign direct investment reached 27.72 billion USDollars. The import export turnover hit $732.5 billion US Dollars with trade surplus of 11.2 billion US Dollars, according to the General Department of Vietnam Customs. These are impressive results amid a decline in growth momentum among global economies.

Vietnamese Communist Party’s General Secretary Nguyen Phu Trong was the first foreign leader to be welcomed by General Secretary of the Communist Party of China and President of China Xi Jinping after the 20th National Congress of the Communist Party of China. The visit created a new impetus for and consolidated the friendly neighborliness, enhanced political trust, and deepened a comprehensive strategic cooperative partnership between Vietnam and China. Thirteen cooperation documents on various areas were signed during the trip.

All the Standing Boards of the Party Committees of 63 provinces and centrally run cities established steering committees for corruption and negative phenomena prevention and control. Thanks to the concerted engagement of the Steering Committees at central and local levels, many cases of corruption and negative phenomena were brought to light.

For the first time, The Politburo issued six resolutions on socio-economic development and defense security safeguarding to 2030 with a vision to 2045 for six economic regions to capitalize on their advantages and enhance connectivity within each region. At its 3rd session, the 15th National Assembly also issued decisions on investment policies for five key transport projects.

The 31st Southeast Asian Games (Seagame) took place from May 5th to 23th shortly after, Vietnam decided to resume international tourism from March 15th. With a successful hosting of the region's biggest sporting event, the country was highly valued for its organization, competition results and promotion of its image, after more than two years fighting the COVID-19pandemic.

The corporate bond market, a medium and long term capital mobilization channel, was negatively affected after investigations into some issuances were launched. Individual investors sold bonds before maturity due to concerns over businesses failure to repay debts. To rectify activities in this market, the government released a decree that stipulates rules on corporate bond offerings. It also requested the Ministry of Finance to guarantee openness, transparency, the legitimate rights and interests of investors.

According to the "e-Conomy SEA 2022" report released by Google, Temasek and Bain & Company, the gross merchandise value of Vietnam's digital economy was estimated at 23 billion US Dollars in 2022, raising by 28% from a year earlier, the fastest growth in Southeast Asia. Data from the Ministry of Information and Communications showed that revenue in the digital economy in 2022 increased by over 10% year on year, to $148,000,000,000.

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