Outstanding economic events of Vietnam in 2022

Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022.

Faster-than-expected GDP growth, the upgrade of Vietnam’s credit ratings, and big fluctuations in the corporate bond market are among notable events of the Vietnamese economy in 2022.

The following is the list of the top 10 defining events of the economy this year selected by the Vietnam News Agency’s Department of Economic News.

1. Issuance of six resolutions on regional socio-economic development and defence-security safeguarding

Outstanding economic events of Vietnam in 2022 hinh anh 1

A national conference to disseminate and launch the implementation of the Politburo's Resolution No 13-NQ/TW, dated Arpil 2, 2022, on orientations for socio-economic development and defence-security safeguarding for the Mekong Delta (Photo: VNA)

For the first time, the Politburo issued six resolutions on socio-economic development and defence-security safeguarding for 2030, with a vision to 2045, for six regions to tap into advantages of each region while enhancing connectivity within each region and among different regions.

At its third session, the 15th-tenure National Assembly also made investment decisions about five key transport projects expected to create an infrastructure breakthrough and connect regions nationwide.

2. Faster-than-expected GDP amid bleak world economic situation

Outstanding economic events of Vietnam in 2022 hinh anh 2

An oil rig on the Bach Ho (White Tiger) oil field (Photo: VNA)

Vietnam’s 2022 GDP growth is estimated at 7.5-8%, higher than the target of 6-6.5%. Meanwhile, inflation has been curbed to stand at 3.1-3.3%, and about 21 billion USD in foreign direct investment (FDI) disbursed, up over 8% year on year. Total exports and imports this year are valued at some 750 billion USD, rising 12.18%, according to the General Department of Vietnam Customs.

These are impressive results amid undermined growth momentum of the world economy and soaring inflation and living expenses.

3. Issuance of national master plan for 2021-2030, with vision to 2050

Outstanding economic events of Vietnam in 2022 hinh anh 3

Prime Minister Pham Minh Chinh chairs a national teleconference to accelerate the building of the national master plan for 2021-2030, with a vision to 2050. (Photo: VNA)

On October 25, the Government issued Resolution No 138/NQ-CP on the national master plan for 2021-2030, with a vision to 2050.

This was the first time a national master plan had been built on the basis of the Law on Planning and the resolutions and conclusions of the Party Central Committee, Politburo, and National Assembly on national socio-economic development in the time ahead.

The plan specifies the distribution and arrangement of space for socio-economic, defence, security, and environmental protection activities that are nationally and internationally important and strategically inter-regional in the territory, including the mainland, islands, archipelagoes, sea areas, and skies.


4. International organistions’ upgrade of Vietnam’s credit ratings

Outstanding economic events of Vietnam in 2022 hinh anh 4

The automobile assembly line of Hyundai Thanh Cong (Photo: VNA)

In 2022, three leading credit rating agencies in the world, namely Moody’s, Standard & Poor’s (S&P), and Fitch Ratings, made positive assessments of Vietnam’s credit ratings. On September 6, Moody’s upgraded Vietnam’s long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable.

Vietnam was the only in the Asia-Pacific and one of the four countries in the world for which Moody’s raised the ratings. International organisations highly valued the country’s efforts in implementing macro-economic policies, keeping financial stability, and surmounting external shocks.

5. Continual adjustment of regulatory interest rates, exchange rates in over one month

Outstanding economic events of Vietnam in 2022 hinh anh 5

The regulatory interest and exchange rates were adjusted continually in over a month. (Photo: VNA)

For the first time, within more than one month (from September 23 to October 25), the State Bank of Vietnam continually adjusted the regulatory interest and exchange rates, with the regulatory interest rate and deposit interest rate ceiling raised twice, and the USD/VND trading band expanded from +/-3% to +/-5%.

The flexible governance by the Government and the central bank has helped contain inflation and enhance people, businesses, and investors’ trust in Vietnam’s investment climate.

6. Vietnam named first country to successfully develop, produce African swine fever vaccines

Outstanding economic events of Vietnam in 2022 hinh anh 6

NAVET-ASFVAC is one of the two African swine fever vaccines made by Vietnam. (Photo: VNA)

Vietnam was the first country to have successfully developed and produced two African swine fever vaccines, NAVET-ASFVAC and AVAC ASF LIVE, which are the first commercial vaccines for this disease.

The Ministry of Agriculture and Rural Development is set to put the vaccines into use nationwide in early 2023. This success has also opened up prospects for exporting African swine fever vaccines.

7. Many new records in stock market

Outstanding economic events of Vietnam in 2022 hinh anh 7

Strong fluctuations have turned VN-Index into one of the most volatile indexes in the world. (Photo: VNA)

In 2022, VN-Index surpassed 1,500 points for the first time, but dropped to less than 900 points within over six months. Such fluctuations have turned VN-Index into one of the most volatile indexes in the world.

The market capitalisation on the Ho Chi Minh Stock Exchange (HoSE) hit a record of more than 6 quadrillion VND (254.5 million USD at the current exchange rate) in early April. In the first 11 months, inpidual investors opened nearly 2.5 million new securities accounts, the biggest number in the 22-year history of Vietnam’s stock market.

Amid the market’s hot growth and signs of stock price manipulation, authorities have taken strong actions to tighten discipline and improve the health of the market.

8. Strong fluctuations on corporate bond market

Outstanding economic events of Vietnam in 2022 hinh anh 8

On April 5, the investigation police agency under the Ministry of Public Security arrests Do Anh Dung, Chairman and Director General of Tan Hoang Minh Group for suspected legal violations relating to bond issuance and capital raising. In the photo: investigators are seen at the Tan Hoang Minh's headquarters on Quang Trung street, Tran Hung Dao ward, Hoan Kiem district of Hanoi. (Photo: VNA)

The corporate bond market, a medium- and long-term capital mobilisation channel, was negatively affected when investigations were launched into some cases involving wrongdoings in corporate bond issuance. Inpidual investors sold bonds before maturity due to concerns over businesses’ failure to repay debts.

To rectify activities in this market, the Government released Decree No 65/2022/ND-CP on September 16 to amend Decree No 153/2020/ND-CP that stipulates rules on corporate bond offerings. It also requested the Ministry of Finance to continue overhauling Decree 65 in order to guarantee publicity, transparency, the legitimate rights and interests of investors, along with the safety and security of the financial and monetary markets.

9. Electronic toll collection applied nationwide

Outstanding economic events of Vietnam in 2022 hinh anh 9

Vehicles pass an electronic toll gate on Hanoi - Hai Phong Expressway. (Photo: VNA)

On August 1, all expressways nationwide applied electronic toll collection (ETC). Piloted since 2015, the ETC application encountered difficulties after repeated delays. The concerted implementation of ETC is expected to help improve service quality, reduce travel time and expenses, ease traffic congestion and environmental pollution, promote convenience and transparency, and safe management and supervision costs.

10. Fuel shortages in many localities

Outstanding economic events of Vietnam in 2022 hinh anh 10

Motorcyclists wait to refill their vehicles at a gas station on Lac Trung street, Hanoi on November 5. (Photo: VNA)

In October and November, residents in many localities had to wait in long queues to buy fuel. This situation came as a result of complex developments in the global oil market, and it also revealed problems in the management of petrol and oil trading.

As directed by the Government, the Ministry of Finance, the Ministry of Industry and Trade, and the State Bank of Vietnam promptly carried out solutions to tackle this situation./.

Source: VNA
en.vietnamplus.vn

Related News

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
Vietnam, Korea Customs sign AEO MRA

Vietnam, Korea Customs sign AEO MRA

VCN- The Director General of the General Department of Vietnam Customs (GDVC), Mr Nguyen Van Tho, and the Commissioner of Korea Customs Service (KCS), Mr Ko Kwang Hyo, signed the Authorized Economic Operator Mutual Recognition Agreement (AEO MRA) on the afternoon of December 24, at the GDVC’s headquarters.
Prioritizing semiconductor workforce training

Prioritizing semiconductor workforce training

VCN - Vietnam is well-positioned to participate deeply in the global semiconductor industry. Experts believe that developing a skilled workforce in microchips and semiconductors should be a long-term priority to effectively capitalize on this opportunity.
Vietnam-Cambodia: Looking back on journey of cooperation

Vietnam-Cambodia: Looking back on journey of cooperation

VCN – The bilateral meeting between the General Department of Vietnam Customs (GDVC) and the General Department of Customs and Excise of Cambodia (GDCEC) was held by the GDVC on December 9.

Latest News

15th National Assembly concludes ninth extraordinary session

15th National Assembly concludes ninth extraordinary session

NA Chairman Trần Thanh Mẫn highlighted this session as a significant milestone in legislative development, playing a crucial role in streamlining the political system.
Party chief requests priority for sci-tech development, digital transformation

Party chief requests priority for sci-tech development, digital transformation

The Party chief asked for prompt amendments to the Law on Science and Technology, followed by revisions to other laws to ensure consistency and alignment with practical requirements.
Monetary policy is a key factor for economic stability and growth

Monetary policy is a key factor for economic stability and growth

VCN – Vietnam’s economy is forecast to grow by 6.7% in 2025, Standard Chartered Bank reported.
Việt Nam commits to being safe, attractive destination for investors

Việt Nam commits to being safe, attractive destination for investors

The Deputy Prime Minister said from an underdeveloped economy, devastated by war, Việt Nam has risen to become the 33rd largest economy in the world with the size of the economy increasing about 60 times compared to the period before renewal.

More News

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Dũng’s message to Việt Nam’s business community was clear: the private sector must continue to evolve and innovate to maintain its role as a key driver of economic development in the face of new global challenges.
Positive economy growth forecast in 2025, but caution remains

Positive economy growth forecast in 2025, but caution remains

Growth is expected to moderate from 7.5 per cent year-on-year in H1 to 6.1 per cent in H2, driven by increased business activity and sustained foreign investment.
Labour market to see changes in key industries

Labour market to see changes in key industries

It is anticipated that the technology, renewable energy and logistics sectors would continue to expand rapidly in 2025.
Prime Minister warns of possible global trade war, pushes for preparation

Prime Minister warns of possible global trade war, pushes for preparation

The Government leader warns of a possibility of a trade war that may disrupt the global supply chain.
Positive economic indicators recorded in early 2025: Gov

Positive economic indicators recorded in early 2025: Gov't spokesperson

Trade remained smooth, with total import-export turnover estimated at $63.15 billion, down 10.5 per cent from the previous month and 3.5 per cent year-on-year.
General Secretary urges immediate return to work after Tết

General Secretary urges immediate return to work after Tết

Party General Secretary Tô Lâm praised efforts to ensure a well-organised holiday, but stressed the need for authorities and businesses to return to work promptly. He warned against extended celebrations and called for full focus on meeting February and first-quarter deadlines.
Government holds gathering to celebrate Party’s 95th anniversary, Lunar New Year

Government holds gathering to celebrate Party’s 95th anniversary, Lunar New Year

PM Phạm Minh Chính expressed his hope for continued support from the Party Central Committee, its Politburo and Secretariat, current and former leaders, the National Asembly, and the Việt Nam Fatherland Front for the Government to fulfil its tasks, creating momentum for the whole country to make development breakthrough and enter the era of the nation’s rise.
Việt Nam’s manufacturing PMI slips into contraction in January

Việt Nam’s manufacturing PMI slips into contraction in January

Business conditions in the Vietnamese manufacturing sector weakened in the first month of 2025 with drops in both output and new orders.
Party’s 95-year journey: Capitalising on great solidarity in era of nation’s rise

Party’s 95-year journey: Capitalising on great solidarity in era of nation’s rise

The past 95 years have formed a glorious and pride-worthy period for the Vietnamese people as they have gradually eliminated poverty and backwardness, steadily moving towards a wealthier and happier future.
Read More

Your care

Latest Most read
15th National Assembly concludes ninth extraordinary session

15th National Assembly concludes ninth extraordinary session

NA Chairman Trần Thanh Mẫn highlighted this session as a significant milestone in legislative development, playing a crucial role in streamlining the political system.
Party chief requests priority for sci-tech development, digital transformation

Party chief requests priority for sci-tech development, digital transformation

The Party chief asked for prompt amendments to the Law on Science and Technology, followed by revisions to other laws to ensure consistency and alignment with practical requirements.
Monetary policy is a key factor for economic stability and growth

Monetary policy is a key factor for economic stability and growth

VCN - Standard Chartered's report also forecasts Vietnam's economic growth at 7.5% in the first half of the year and at 6.1% in the second half of the year compared to the same period last year.
Việt Nam commits to being safe, attractive destination for investors

Việt Nam commits to being safe, attractive destination for investors

The Deputy Prime Minister said from an underdeveloped economy, devastated by war, Việt Nam has risen to become the 33rd largest economy in the world with the size of the economy increasing about 60 times compared to the period before renewal.
Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Minister of Planning and Investment outlines six strategies to boost Việt Nam’s private sector

Dũng’s message to Việt Nam’s business community was clear: the private sector must continue to evolve and innovate to maintain its role as a key driver of economic development in the face of new global challenges.
Mobile Version