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Vietnam among best performing economies in Asia - Pacific: IMF executive

Vietnam among best performing economies in Asia - Pacific: IMF executive

Thursday, January 12, 2023, 11:02 GMT+7
Vietnam among best performing economies in Asia - Pacific: IMF executive
This image shows Deputy Managing Director of IMF Antoinette Sayeh at her meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on January 10, 2023. Photo: Nhat Bac / Tuoi Tre

Vietnam is considered one of the best performing economies in the Asia-Pacific region, so it will continue to maintain its growth momentum in the coming time, a high-ranking official of the International Monetary Fund (IMF) has said.

Antoinette Sayeh, IMF Deputy Managing Director in charge of the Asia-Pacific region, released the comment at her talk with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Tuesday during her first working visit to Vietnam.  

Sayeh highly appreciated Vietnam’s multifaceted successes that have placed the country among the economies with the best performances in the Asia-Pacific area.

The guest expected her belief that Vietnam will continue to maintain its growth momentum with appropriate policies on fiscal, monetary, public investment, inflation control, and foreign exchange flexibility.

The IMF will continue to recognize the experiences from Vietnam’s development and share them with other countries, Sayeh said.

She added that the IMF is keen on providing technical advice and support for Vietnam to maintain and promote its past achievements to gain its future development targets, including its ambitious commitment to net zero emission by 2050.

The IMF executive also briefed the host the results of her earlier meetings with the Party Central Committee’s Economic Commission, the Finance Ministry and the State Bank of Vietnam during her visit. 

PM Chinh told his guest that Vietnam registered a gross domestic product (GDP) growth of 8.02 percent, earned an export surplus of over US$10 billion and kept inflation at 3.15 percent in 2022, despite a lot of difficulties at home and abroad. 

Last year also saw the country’s economy reaching $409 billion while the average GDP per capita hit $4,110, Chinh said.

The PM also emphasized that Vietnam has contributed to ensuring the world’s food security by exporting more than seven million tons of rice last year, along with $53 billion worth of other agricultural exports.

The Vietnamese government will drastically and synchronously deploy effective solutions to continue to stabilize the macro-economy, control inflation, promote growth, and ensure major balances of the economy. 

Specifically, such solutions will include firm, flexible and effective management of the monetary policy; application of a focused and expansionary fiscal policy; acceleration of infrastructure development; promotion of digital transformation, energy transformation and circular economy; and diversify markets, products and supply chains, the PM elaborated. 

With a great potential for renewable energy, Vietnam is perfecting its legal framework to boost the development of its renewable industry, with the support of other countries and international financial institutions in terms of technology, capital, administration, and human resources.

During its course of development, the Southeast Asian country is always ready to listen to recommendations and advice from international organizations such as the IMF and the World Bank, Chinh said.

The Vietnamese government chief also wished to build the fruitful cooperation between Vietnam and the IMF into a fine model that can be shared and replicated to other countries.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vietnam is considered one of the best performing economies in the Asia-Pacific region, so it will continue to maintain its growth momentum in the coming time, a high-ranking official of the International Monetary Fund (IMF) has said.

Antoinette Sayeh, IMF Deputy Managing Director in charge of the Asia-Pacific region, released the comment at her talk with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Tuesday during her first working visit to Vietnam.  

Sayeh highly appreciated Vietnam’s multifaceted successes that have placed the country among the economies with the best performances in the Asia-Pacific area.

The guest expected her belief that Vietnam will continue to maintain its growth momentum with appropriate policies on fiscal, monetary, public investment, inflation control, and foreign exchange flexibility.

The IMF will continue to recognize the experiences from Vietnam’s development and share them with other countries, Sayeh said.

She added that the IMF is keen on providing technical advice and support for Vietnam to maintain and promote its past achievements to gain its future development targets, including its ambitious commitment to net zero emission by 2050.

The IMF executive also briefed the host the results of her earlier meetings with the Party Central Committee’s Economic Commission, the Finance Ministry and the State Bank of Vietnam during her visit. 

PM Chinh told his guest that Vietnam registered a gross domestic product (GDP) growth of 8.02 percent, earned an export surplus of over US$10 billion and kept inflation at 3.15 percent in 2022, despite a lot of difficulties at home and abroad. 

Last year also saw the country’s economy reaching $409 billion while the average GDP per capita hit $4,110, Chinh said.

The PM also emphasized that Vietnam has contributed to ensuring the world’s food security by exporting more than seven million tons of rice last year, along with $53 billion worth of other agricultural exports.

The Vietnamese government will drastically and synchronously deploy effective solutions to continue to stabilize the macro-economy, control inflation, promote growth, and ensure major balances of the economy. 

Specifically, such solutions will include firm, flexible and effective management of the monetary policy; application of a focused and expansionary fiscal policy; acceleration of infrastructure development; promotion of digital transformation, energy transformation and circular economy; and diversify markets, products and supply chains, the PM elaborated. 

With a great potential for renewable energy, Vietnam is perfecting its legal framework to boost the development of its renewable industry, with the support of other countries and international financial institutions in terms of technology, capital, administration, and human resources.

During its course of development, the Southeast Asian country is always ready to listen to recommendations and advice from international organizations such as the IMF and the World Bank, Chinh said.

The Vietnamese government chief also wished to build the fruitful cooperation between Vietnam and the IMF into a fine model that can be shared and replicated to other countries.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vinh Tho - Ngoc An / Tuoi Tre News

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