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3 scenarios for economic growth in 2023

July 29, 2023 15:00 PM

With three scenarios suggested by experts, Vietnam’s economy is predicted to accomplish great achievements in the last six months.

3 scenarios for GDP growth in Vietnam in 2023

On the morning of July 10, the Central Institute for Economic Management (CIEM) in collaboration with the German Organization for Development Cooperation hosted a Vietnam Economic Workshop on the first six months of the year and the prognosis until the end of 2023, with three key scenarios:

  • Scenario 1: Vietnam attempts to disperse public investment based on the idea that aspects of the global economy remain consistent with evaluations by credible organizations. This scenario resulted in GDP growth of 5.34 percent in 2023, with an annual average increase of 3.43% compared to 2022.
  • Scenario 2: Keeping the ideas in Scenario 1 intact, but altering some information linked to money and fiscal year further. GDP increase of 5.72%/ year is projected. The trade balance was in surplus, totaling $10.3 billion.
  • Scenario 3: The hypothesis is established in a more favorable situation than the previous two scenarios, with the economy showing signs of recovery and inflation in the United States expected to reduce. Vietnam’s business climate and worker productivity will improve, as will investment. The year’s average CPI in 2023 will climb by 4.39%.

Furthermore, several variables can have an impact on the Vietnamese economy, including:

  • First, important economies may continue to tighten monetary policy, affecting Vietnam.
  • Second, the important economies will boost their economic, technological, and geopolitical competitiveness.
  • Third, when the global minimum tax regime is implemented, FDI investment into Vietnam would decline.
  • Fourth, the Vietnamese economy is impacted by Vietnam’s own capabilities to adapt to the global crisis, as well as strategies in digital transformation and green transformation.

The ready-built warehouse market suits the business’s expansion demands

Experts anticipate that the three economic development scenarios until the end of 2023 would be beneficial to businesses. Gaw NP Industrial has constructed GNP Dong Van 3 ready-built warehouse project in Ha Nam with many distinct benefits, as well as being ready for development and always accompanying enterprises.

1. Contemporary design and comprehensive infrastructure:

  • The awning is spacious, and the interior road is clean, making it easy to import and export products.
  • Floor load of up to 3 tons/m2, fire-resistant wall.
  • A national standard fire protection system is provided.
  • Surveillance and security cameras operate 24/7.
  • Can function as either an Export Processing Enterprise (EPE) or a Non-Export Processing Enterprise (Non-EPE).

2. Ideal position: The GNP Dong Van 3 ready-built warehouse is in a perfect location, making it easy to trade commodities in the province and nearby areas:

  • Only 60 minutes from Hanoi.
  • 70 minutes from Noi Bai International Airport and 100 minutes from Cat Bi International Airport.
  • About 100 minutes between Lach Huyen deep water port and Hai Phong port.

3. Take advantage of several favorable tax policies: When FDI firms invest in Vietnam and select the GNP Dong Van 3 built-in warehouse, they will benefit from various general Vietnamese tax breaks as well as local private incentives: Tax free for the first two years, then a 50% decrease for the next four years.

Businesses interested in learning more about GNP Dong Van 3 ready-built warehouse could contact Hotline +84 789 75 77 88 for support.

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