Vietnam's ongoing economic recovery after being negatively affected by the COVID-19 pandemic for two years can be put down to the Government's efforts to create optimal conditions for local businesses to resume normal operations in line with safe pandemic control conditions.
According to experts, Vietnamese GDP in the first quarter of this year reaching over 5% can be viewed as a very positive signal for the local economy, showing that the national economy is on the right track for recovery moving forward after two consecutive years suffering the adverse impacts of the COVID-19 pandemic.
Statistics detailed by the General Statistics Office (GSO) in the first quarter of this year indicate that the country’s GDP was estimated to have expanded by 5.03% over the same period last year, higher than the growth rates of 4.72% and 3.66% recorded in the same quarters of 2021 and 2020.
Furthermore, industrial production in the first quarter continued to prosper, with added value of the entire sector growing by 7.07% on year. This is in addition to the agriculture, forestry and fishery sector increasing by 2.45%, the industry and construction sector soaring by 6.38%, and the service sector rising by 4.58%.