09:22 - 07/02/2022

HUB Macroeconomic Forum: “Vietnam's economy 2022 – Economic recovery after the COVID-19 crisis”

In 2021, the recovery of the global economy, although making progress, showed a "loss of momentum" and lack of balance. Many countries are recovering rapidly alongside those facing the risk of being left behind, especially in low-income areas where vaccination rates are low. The strong recovery momentum after reopening is now "cooling down" in many countries in the context of continued congested supply, rising input costs and continued impact of the pandemic when mutated Omicron with more contagious ability emerges. Persistent inflationary pressures are present in all economies at an unusually early stage in the cycle, and labor shortages are evident even though job numbers and working hours have yet to recover completely. Food and energy costs have risen sharply, hitting low-income households hardest. These factors make the development outlook likely to become more uncertain and pose significant policy challenges in 2022.

        By the end of 2021, Vietnam's economic growth will reach 2.58%. This positive growth is a great effort of the economy in the 2nd year of the pandemic. Compared to the previous year, the COVID-19 epidemic is more complicated and affects all sectors of the economy more seriously. In the third quarter of 2021, many key economic localities have to implement prolonged social distancing to prevent epidemics. However, this is still the lowest growth rate since 1986 and continues the downward growth trend from 2020. In this quarter, growth in the first and second quarters was 4.47% and 6.73%, respectively, in the third quarter. decreased by 6.02% and in the fourth quarter increased by 5.22%

        Looking to the future of 2022, international organizations say the global economy is expected to grow 4.9% in 2022, with a slowdown in advanced economies - partly due to source disruptions of supply – and for low-income developing countries, largely because the impact of the pandemic is deepening. However, world economic growth was partially offset by an almost stronger outlook in some commodity-exporting emerging markets and developing economies. Unemployment is forecast to continue to lag behind the output recovery process.

        Most price pressures are expected to ease by 2022. However, in some developing countries including Vietnam, price pressures are expected to continue to increase due to rising food prices, and delay of the oil price increase. However, the forecast of Vietnam's inflation outlook still depends on the evolution of the pandemic, the duration of the supply disruption and the inflation expectations of all economic sectors.

        In order to clearly identify the opportunities and challenges brought to the Vietnamese economy, thereby proposing appropriate solutions, Ho Chi Minh University of Banking (HUB) organized a macroeconomic seminar with the theme "Vietnam's economy 2022 - Economic recovery after the COVID-19 crisis". This is a large-scale economic forum, held for the 8th time at HUB. This macroeconomic conference brings together the wisdom of scientists and economic experts in both the South and the North to analyze and evaluate the macroeconomic situation in the world and in Vietnam. The sharing and discussion at the seminar will be the basis for advising the State Bank, agencies, ministries and branches of the Government in policy formulation and administration. This economic conference also aims to help banks and businesses have business strategies to promptly respond to the precarious conditions of the world economic market, towards sustainable development in the future.

     Program information:
        - Time: 8:00 a.m. to 11:15 a.m. on January 19, 2022 (Wednesday)
        - Format: Face-to-face and online via Zoom meeting application
        - Lecturers, researchers, management agencies, businesses, investors, media agencies, .... Interested people can register to attend the seminar by 11:00 January 18, 2022

     Some pictures at the Macroeconomic Conference in 2021

HUB Macroeconomic Forum “Vietnams economy 2022 – Economic recovery after the COVID19 crisis”
HUB Macroeconomic Forum “Vietnams economy 2022 – Economic recovery after the COVID19 crisis”
HUB Macroeconomic Forum “Vietnams economy 2022 – Economic recovery after the COVID19 crisis”