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Vietnam Annual Economic Report 2022: Strengthening Digital Platform for Service Sector
At the launching conference of Vietnam Annual Economic Report 2022 held by VNU University of Economic and Business in collaboration with Friedrich Nauman Foundation Vietnam (FNF) on May 20, 2022, Vietnam Institute for Economic and Policy Research (VEPR) introduced GDP growth scenarios for 2022, with a base growth rate of 5.7 percent and a positive growth rate of 6.2 percent. However, if the economic context is negative, the forecast rate will decrease to 5.2 percent.

Vietnam Annual Economic Report 2022, titled “Strengthening Digital Platform for Service Sector”, was edited by Assoc. Prof. Dr. Nguyen Truc Le, Assoc. Prof. Dr. Nguyen Thi Anh Thu and Dr. Nguyen Quoc Viet.

VNU President Le Quan said that the topic of Vietnam Annual Economic Report 2022 was appropriate for the context of the Vietnamese economy, especially for the post-Covid-19 service sector. The research results would contribute to policy making for appropriate investment in the development strategy of the service industry in particular and the Vietnamese economy in general.

Vietnam Annual Economic Report 2022 consists of 6 chapters. Besides overviewing the world’s economy and Vietnam’s economy, the authors analyzed the current situation of digital transformation and the development prospects of the finance, banking, and logistics industries; therefrom writing growth forecast scenarios for Vietnam and policy implications to solve the mentioned problems, towards economic recovery and development for Vietnam.

Digital transformation in the service sector not only helps Vietnam overcome difficulties caused by the pandemic, but also enhances competitiveness of businesses. However, Vietnam's digital transformation process also faces many difficulties and obstacles, especially in completing the institutional and legal framework for accelerating the digital transformation. Investment risks and human resources capacity are also major obstacles for businesses in digital transformation. In order for businesses in the service sector to have a basis for building an effective digital transformation roadmap, the authors researched and built a set of criteria to evaluate the level of digital transformation based on sector-specific criteria and characteristics.

Based on the analysis of the world’s economy main trends and the assessment of both risks and advantages in the international and domestic markets, the report developed a number of scenarios for the Vietnamese economy in 2022 and beyond.

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