Q1 2022 GDP growth hit a three-year high. According to the General Statistics Office of Vietnam (GSO), Vietnam’s GDP growth reached 5.03% in Q1 2022, which was the highest Q1 growth rate since the beginning of the pandemic. We expect overall economic activity will continue to improve in the coming quarters. However, due to rising global risks, we cut our GDP growth forecast for 2022 to 7.2% from 7.8% projected at the beginning of this year and maintain our 2023 growth forecast at 7.0%.

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