Italian Journal foresees Vietnam becoming “New Asian Tiger”

Vietnam may become a new tiger in Asia, according to Italy’s La Repubblica daily after the World Bank raised the Southeast Asian country’s growth forecast.

The journal cited data from the World Bank East Asia and Pacific Economic Update showing that the region may record growth of 3.2 per cent this year and 4.6 per cent next year.

Vietnam is predicted to lead the region with growth of 7.2 per cent, higher that the banks earlier forecast of 5.3 per cent. The bank also gave growth forecast for other regional countries, including Malaysia (6.4 per cent), the Philippines (6.5 per cent), Indonesia (5.1 per cent), and Cambodia (4.8 per cent).

Bernama cited, basing on these statistics, La Republica held that the new Asian tiger in 2022 will be Vietnam, reported Vietnam News Agency (VNA)

Analysts asserted that factors promoting the growth of Asia, except China, include the ending of restriction measures to prevent the COVID-19 pandemic, the reopening of borders, and the resumption of consumption and industrial production.

At the same time, the rise in commodity prices due to the global energy crisis also has a role to play in boosting the regions export-dependent economies, they said.

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