Government lauded for economic management

Illustrative economy (Source: VNA)

Ted Osius, former US Ambassador to Vietnam and President of the US-ASEAN Business Council, has commended the Vietnamese Government for its good economic management, making it one of the leading economies in Southeast Asia.

In an interview granted to the Vietnam News Agency, Osius cited a forecast by the World Bank (WB) for the Vietnamese economy as saying it is expected to grow 7.5% this year.

He described Vietnam’s post-pandemic rapid recovery as a positive sign in the context of the global economy facing a host of difficulties like inflation and food and energy crisis.

Vietnam has favourable conditions to spur its economic development, he said, adding that the country has actively integrated into the world and paid attention to boosting its trade ties with the US.

Foreign investments in Vietnam have continued to rise, and more and more US firms have come to the Southeast Asian nation, Osius continued.

Vietnam has also engaged in negotiations for the Indo-Pacific Economic Framework (IPEF) with the four pillars of free trade, resilience of supply chains, clean energy through carbon emission reduction and infrastructure, and customs and anti-corruption.

Osius noted that the Vietnamese economy has substantial prospects, and suggested the country join negotiations and work together with its trade partners to make decisions in order to better cope with challenges ahead such as energy and food prices and inflation./.