As the COVID-19 pandemic has subsided and the world is facing many challenges such as inflation, energy crisis, and geopolitical competition, the Vietnamese economy has grown well and higher than its peers in Southeast Asia, said Professor Vladimir Mazyrin, leader of the Centre for Vietnamese and ASEAN Studies under the Russian Academy of Sciences’ Institute of China and Contemporary Asia.

At the Tan Can Cat Lai port. Photo: VNA

In a recent interview with the Vietnam News Agency, the expert said it is a positive sign, reflecting the economy’s stability and positivity. Given increasing risks, Mazyrin said that the current rapid growth rate can be considered recovery.

About the factors behind the country’s growth, he highlighted a wave of global production shift to Vietnam as well as the nation’s good capital attraction and flexible macroeconomic policy.

The impact of geopolitical conflicts, including the energy and food crisis, is still ahead and expected to affect the Vietnamese economy in 2023, the expert noted.

The nation’s import-export turnover this year is estimated at 732 billion USD, however, higher exports means higher level of dependence, Mazyrin added.

He said over the past year, Vietnam's inflation rate has been relatively low, bringing about positive results in terms of macroeconomics.

Vietnam is having many chances for choosing its partners, particularly in East Asia, the expert stressed, stating that it is necessary for the country to further expand its trade.

Source: VNA