The Vietnamese economy is actively recovering with a rebound in industrial production and retail sales, continued trade surplus and stabilized credit growth, a World Bank (WB) update says.

Vietnam progressively put in place a range of social distancing and movement restrictions during the fourth wave of Covid-19, which will have long-term and inequitable impacts on its economy. However, in comparison with countries in the region, Vietnam has been the least hit and is expected to be the fastest economy to recover.

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By Bloomberg, "Vietnam’s economic growth accelerated in the fourth quarter as manufacturing revived and exports extended their recovery from the pandemic slump earlier this year."

Việt Nam’s GDP growth is forecast to surge from an estimated 2.6 per cent in 2021 to 7.5 per cent in 2022, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery.