Economic reform is key for Vietnam to support growth and curb rising inflationary pressure.

Government agencies are tasked with addressing any overlapping laws and regulations that prove to be a hurdle in mobilizing resources for sustainable economic development.

Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound.

The timely shift of the pandemic containment strategy helped Vietnam restore economic activity and reduce bottlenecks in the business environment.

With rising transport fees impacting the prices of consumer goods, there has been growing concern over the high inflationary pressure.

The estimated consumer spending growth of 5.7% in 2022 stays in line with the agency’s forecast of economic growth by a real rate of 8% year on year.