Over 70% of enterprises upbeat about growth prospects
VGP - Up to 78.3 percent of companies expected economic growth at 5-6.5 percent and 73.9 percent of respondents were moderately optimistic about profit prospects this year, according to Viet Nam Report.
The survey of the most profitable companies in Viet Nam (PROFIT500), conducted by Viet Nam Report Joint Stock Company showed that over two-thirds of businesses said their revenue has returned or exceeded the pre-pandemic levels.
This recovery is achieved mainly by solid export growth. Although inflationary pressures, economic slowdown, world political tensions, supply chain disruptions, reduced purchasing power and personnel shortages are the main causes of worry, most businesses are still optimistic about economic recovery prospects in 2022.
However, more than two-thirds of respondents said that inflation pressure is rising and economic and political instability in the world are their biggest concern, followed by pandemic-caused disruptions (61.5 percent), supply chain disruptions (53.9 percent), reduced consumer purchasing power and shrinking consumer markets (48.1 percent) and manpower shortages (40.4 percent).
In its latest report, the World Bank (WB) forecast that Viet Nam's economy will grow at 7.5 percent in 2022, significantly higher than the 5.5 percent estimated in January 2022.