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Amidst the global economic downturn, Vietnam’s GDP growth still exceeds expectations

Vietnam’s GDP growth rate for 2022 is expected to reach 7.5–8%, surpassing the initial target of 6–6.5%. The inflation rate is controlled at 3.1–3.3%, and foreign direct investment (FDI) inflows are estimated at around 21 billion USD, an increase of more than 8% compared to 2021. According to Vietnam’s General Department of Customs, the total import and export value for the country is approximately 750 billion USD, a year-on-year increase of 12.18%. This is an impressive achievement considering the global economic slowdown, rising inflation, and increasing living costs.

On October 25, the Vietnamese government signed Decision No. 138/NQ-CP, regarding the “National Overall Planning for the Short-term until 2030 and Long-term Outlook until 2050.” This is the first time Vietnam has developed a national overall plan based on the “Planning Law” and the resolutions and conclusions of the Party Central Committee, Political Bureau, and National Assembly on national socio-economic development. The overall plan outlines the spatial layout and organization of socio-economic, national defense, security, and environmental protection activities in Vietnam’s territory, which includes mainland, islands, archipelagos, maritime areas, and airspace, all of which hold national, international, and cross-regional strategic significance.

At the same time, Vietnam’s stock market has set multiple records. In 2022, the VN-Index first broke through the 1,500-point mark in history, but within just six months, it plummeted to 900 points. During the year, the HoSE (Ho Chi Minh Stock Exchange) market capitalization also reached a record high of over 600 trillion VND in early April. In the first 11 months of the year, the number of new securities accounts opened by domestic individual investors reached nearly 2.5 million, setting a new historical high. In the context of a booming stock market and stock price manipulation, relevant Vietnamese authorities carried out extensive market regulation, strengthened oversight, and promoted the healthy development of the stock market.

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