World Bank economist praises Vietnam’s economic resilience in 2023

Despite the global economic downturn, Vietnam showcased remarkable economic resilience in 2023, according to World Bank Lead Economist Andrea Coppola. Vietnam’s growth, driven by robust trade relations and demand for its exports, surpassed many other countries. The nation’s open economy played a crucial role in its positive performance. Recovery signs emerged in late 2023, propelled by increased external demand, public investment, and steady private consumption. This progress, alongside political stability and global economic integration, heightened Vietnam’s appeal to international investors. The Asian Development Bank forecasts Vietnam’s GDP growth at 6% for 2024, focusing on public investment, domestic consumption, and export recovery. Vietnam’s effective response to global challenges and commitment to sustainable development have contributed to its strong economic standing and future growth prospects.