It wrote that with export and consumption recovery, the Vietnamese economy rebounded strongly in Q2, with gross domestic product (GDP) increasing 7.72% year on year – the fastest pace in almost 11 years.

Vietnam has posted GDP growth of 7.72% in Q2 this year.

This is expected to boost the GDP growth in the first half of 2022 to 6.42% from a year earlier, beyond the Government’s 5.5% expectation. The country recorded a growth rate of only 2.04% in the same period last year.

Unveiling the statistics on June 29, the General Statistics Office (GSO) of Vietnam stressed that compared to other ASEAN members and countries in the world, this is a relatively high growth rate, and that the country has also maintained macro-economic stability, according to Lianhe Zaobao.

The article noted since Vietnam gradually lifted anti-Covid-19 measures in late 2021, domestic industries and factories have completely resumed operations, driving the strong recovery of manufacturing and export activities.

In H1, export turnover rose 17.3% year on year to 185.94 billion USD while industrial production was up 8.7%.

Meanwhile, Bloomberg said underpinning the recovery has been the government’s 15 billion USD worth of fiscal stimulus, and an easy monetary policy. That’s helped boost the competitiveness of the Southeast Asian nation which is emerging as an attractive alternative destination for foreign investment.

The GSO also warned that Vietnam’s economy may face many challenges in the latter half of the year such as inflation, global political uncertainties, and pandemic aftershocks.

A World Bank report released earlier this month recommended the country stay vigilant against inflation risks such as surging fuel and import prices which may hamper the recovery trend of domestic demand.

Small and medium enterprises get support to do online business

A training course supporting small and medium enterprises to do online business and online exports was held in Ho Chi Minh City on June 17.

Digital transformation creates a healthy agribusiness environment

The Covid-19 epidemic on the one hand made the country’s agricultural products face many difficulties in the consumption process, but on the other hand it opened new ways of consumption with low cost and high efficiency, which is trading on digital platforms.

About 94 percent of business and organization use electronic invoice in Bac Giang

(BGO) - Under the direction of the Government and Ministry of Finance, the enterprises, economic organizations, household businesses and individuals in 57 centrally-run provinces and cities including the northern province of Bac Giang started to apply electronic invoice (e-invoice) from April 1, 2022 to replace the paper form. It becomes compulsory task from July 1, 2022.

Innovation key to enhancing businesses’ productivity

While innovation is considered as key to boosting the productivity and quality of products, due attention has not been paid to the issue by Vietnamese enterprises, experts have said.

Source: NDO/VNA