Vietnam economy seen growing 8% in 2022, beating official target

By Reuters October 11, 2022 | 06:33 pm PT

Labourers work at Hung Viet garment export factory in Hung Yen province, Vietnam December 30, 2020. Photo by Reuters/Kham

Vietnam's economy is expected to grow 8% this year, beating an official target for an expansion of 6.0%-6.5%, the government said on Tuesday.

The country's exports are forecast to rise 9.5% to $368 billion in the year, the government said in a statement, adding that its foreign direct investment inflows are seen rising 6.4%-11.5% to $21 billion-$22 billion.

Vietnam, a regional manufacturing hub, has seen its economy rebounding from the pandemic, with gross domestic product in the third quarter growing 13.67% from a year earlier.

The government said it will pursue "a flexible and prudent" monetary policy during the rest of the year to ensure macroeconomic stability.

Vietnam will aim for a growth of 6.5% and will consider an inflation target of 4.5% next year, the government said.