Vietnam's economy is competitive.

Many world economic research and investigation organizations have adjusted Vietnam's growth forecast for this year and next year.

The growth forecast revisions show that Vietnam's economy is recovering and growing positively compared to other economies.

Investing newspaper cited HSBC bank's positive forecast on Vietnam's economic growth and experts' comments that the recovery due to improved global demand contributed to boosting exports, along with increased domestic spending, while emphasizing that total retail sales and consumer service revenue grew significantly by 9.7%.

"Even when global exports declined, Vietnam's exports still gained market share, which shows that the Vietnamese economy is competitive. We still see foreign investment flowing into Vietnam and expanding export capacity. That allows Vietnam to recover faster than other economies in the region," said Frederic Neumann, chief economist of the Asian Economic Research Group, HSBC Bank.

Vietnam's investment attractiveness remains strong. Illustration photo: VNA.

China’s Xinhua News Agency cited a report by the ASEAN+3 Macroeconomic Research Institute (AMRO) as the organization raised its growth forecast for Vietnam this year. The article stressed that Vietnam has taken various measures, using both fiscal and monetary tools, to support businesses affected by the recession.

Malaysia's Thestar newspaper mentioned a recent report by the World Bank, which stated that domestic demand is expected to be the main growth driver of Vietnam's economy this year.

"Vietnam's processing and manufacturing companies are gradually becoming the center of the economy. Regarding the service sector, which is currently concentrated in big cities, in my opinion, Vietnam needs to pay attention to the development direction in localities in the coming time. In addition, investment services, medical services, and the manufacturing sector will be Vietnam's economic spearheads," said Professor Ryo Ikebe, Senshu University, Japan.

Fibre2fashion reported that the quarterly business confidence index of the European Chamber of Commerce in Vietnam (EuroCham) increased to 45.1 in the third quarter of this year, from 43.5 in the second quarter. The newspaper commented that Vietnam's investment attractiveness remains strong, as 63% of surveyed businesses ranked Vietnam in their top 10 foreign direct investment destinations./.

Thu Hang