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Saturday, May 18, 2024

Vietnam has opportunities in digitalization, green transformation – IMF

The Saigon Times

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HCMC – The International Monetary Fund (IMF) has projected substantial potential for Vietnam in digitalization and green transformation in the medium term.

Krishna Srinivasan, director of the IMF’s Asia-Pacific Department, highlighted these prospects during a press conference on the Regional Economic Outlook for Asia and the Pacific held yesterday, April 18, in the U.S, according to the Vietnam News Agency.

Srinivasan also mentioned Vietnam’s economic growth, saying the country’s GDP is expected to expand around 6.5%, driven by its potential, substantial foreign direct investment, and ongoing efforts to improve the business environment and infrastructure.

The Asia-Pacific region saw unexpectedly strong GDP growth in the second half of 2023, primarily fueled by robust domestic demand, notably in emerging economies like Malaysia, the Philippines, and Vietnam.

The IMF put growth in the Asia-Pacific region at 5% in 2023, significantly surpassing the 3.9% recorded in 2022 and exceeding the IMF’s October 2023 forecast by 0.4 percentage points.

For 2024, projected GDP growth for the region is expected to hit 4.5%.

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