VINACHEM

Standard Chartered Bank forecasts Viet Nam’s recovery will accelerate markedly in 2022, with GDP growing by 6.7 per cent. The bank raised its 2023 growth forecast for Viet Nam to 7 per cent as it believes Viet Nam’s positive medium-term outlook remains intact.

The forecast is highlighted in the bank’s recently published global research report titled “Still battling headwinds” and Viet Nam-focused macro-economic research report titled “Viet Nam – Moving back to high growth”.

According to Standard Chartered’s economists, exports should be supported in 2022 by a continued improvement in the global trade environment, although import growth is likely to remain high.

Standard Chartered Bank maintains its medium-term constructive view on the Vietnamese dong amid expectations of a strong balance of payments (BoP). The rapid pace of appreciation since July reflects more flexible exchange rate management by the central bank. The VND is among the best-performing emerging market currencies in 2021. - VNS-