(OECD report) Vietnam joins the top 5 Southeast Asian economies

On April 3, 2023, Saigon Liberation Daily reported that the Organization for Economic Cooperation and Development (OECD) recently released a discussion report on the economic outlook for Southeast Asia, indicating that Vietnam's economy will grow by 6.4% this year and reach 6.6% by 2024. With the above growth rate, Vietnam continues to rank among the top five Southeast Asian economies.
In the report titled "Economic Outlook for Southeast Asia, China and India in 2023: Restarting Tourism Activities after the COVID-19 Pandemic", OECD found that Vietnam's success depends on foreign investment in manufacturing (especially electronics, machinery manufacturing, textile clothing and footwear) and China's optimization of epidemic prevention and control measures. The OECD stated that the end of the post pandemic assistance plan will create conditions for Vietnam to improve its public finances, while urging a close monitoring of inflation evolution.
The tourism sector is one of the sectors seriously affected by the COVID-19 pandemic and epidemic prevention measures. The above report emphasizes the impact of tourism in Southeast Asia on the economy and explores measures to restart the development of the sector in order to regain the emerging important role in Asia. Regarding the interruption of tourism activities, countries in the region are allowed to review reforms in this field, including diversifying the tourism market and addressing labor market challenges, while meeting the new needs and preferences of the post pandemic world, prioritizing sustainable development activities, and accelerating the development of digital technology environment.
The above report confirms that Vietnam has the advantages of beautiful scenery, diversified tourism industry, and an understanding of folk life patterns. Cultural heritage and food tourism also have great potential. The biggest challenge is to improve the quality of infrastructure, better connect with tourism labor supply activities, expand local level participation, and at the same time, regulate the natural environment to carry out tourism activities without authorization. In addition, Vietnam must quickly diversify its sources of foreign tourists, focus on the Southeast Asian and Indian tourist markets, and develop domestic tourism and promote sustainable development of green tourism. Article SourceSAKAMITI-https://www.sakamiti.com/1874.html