The Lao Journalists Association’s website laophattananews.com has recently published an article praising Vietnam’s experiences for good economic growth in the context of global downturn.

Illustrative photo (Source: VNA)
Illustrative photo (Source: VNA)

The article emphasised that Vietnam recorded good economic growth in the context of the world facing economic recession, inflation, and unemployment in the past three years.

It cited the World Bank’s study as saying one of the important factors for the nation’s economic development is the fact that investors in the manufacturing sector, especially factories producing electronic devices from the US, Europe and Asia, have been expanding their operations in Vietnam.

In addition, its education reform has contributed to improving the quality of human resources. The Vietnamese Government's focus on investing in developing infrastructure is expected to boost growth in years to come. 

According to the article, experts believe that in 2023, the world economy will continue to decline and face many difficulties. Large countries such as the US, China, and those in the EU are forecast to grow slowly. However, Vietnam is likely to sustain stable growth because it has attracted investors and issued suitable policies for local currency management.


Source: VNA

Related Topics


Vietnam contributes importantly to ASEAN’s economic growth: ASEAN Deputy Secretary-General

Deputy Secretary-General for ASEAN Economic Community for 2021-2024, Satvinder Singh, has affirmed that Vietnam is one of the strongest contributors to ASEAN’s dynamic, resilient economy and is a very critical partner for ASEAN’s integration.

Vietnamese President holds talks with Singaporean counterpart

Vietnamese President Nguyen Xuan Phuc held talks with his Singaporean counterpart Halimah Yacob, after hosting a welcome ceremony for the latter at the Presidential Palace in Hanoi on October 17.

ASEAN Day 2022 held in Washington D.C.

The ASEAN Family Day 2022 has been organised in Washington D.C., drawing the participation of nearly 200 ASEAN embassy members and their families, as well as representatives from the US Department of State.

Vietnam holds centre role in ASEAN

Since officially joining ASEAN on July 28, 1995, Vietnam's foreign policy in ASEAN has become an important part, reflecting a fundamental development in its foreign strategy.

Vietnam's Engineering Unit conducts field reconnaissance in Abyei

Soldiers of Vietnam's Engineering Unit Rotation 1 participating in peacekeeping mission at the United Nations Interim Security Force for Abyei (UNISFA) have recently deployed field reconnaissance to prepare for the rainy season and build barracks.

Vietnamese mission in Geneva joins Lao counterparts on Bunpimany festival

Ambassador Le Thi Tuyet Mai, Permanent Representative of Vietnam to the United Nations, the World Trade Organisation (WTO) and other international organisations in Geneva has extended best wishes to her Lao counterpart Ambassador Latsamy Keomany, his spouse and staff on Bunpimay, the traditional New Year of Laos.