With decisive policy actions, proactive diplomacy and strategic reform priorities, the country is now aiming for an ambitious GDP growth target of 8% or more this year - a goal lawmakers and experts believe is within reach, provided key breakthroughs are implemented effectively.
Amidst global economic and political turbulence, Vietnam’s economy showed impressive resilience in the first quarter, growing by 6.93%, with a key highlight being foreign direct investment attraction and disbursement.
After a gloomy period in 2023, Vietnam's economy has recovered impressively thanks to strong external demand, helping exports of goods and services increase by 15.5% in 2024, according to the World Bank.
Nguyen Thi Huong, Director General of the National Statistics Office (NSO) under the Ministry of Finance, shared her insights into the Vietnamese economic landscape so far this year, and sketched out solutions to boost the country’s growth in an interview granted to VietnamPlus.
The year 2025 marks a crucial phase, bringing new momentum and enthusiasm as the country enters a period of robust development. To achieve the socio-economic targets set for 2021-2025, provinces and cities across Vietnam are focusing their efforts on driving growth, maintaining macroeconomic stability, controlling inflation, and ensuring a high surplus balance. The target for 2025 is an economic growth rate in the double digits.
Vietnam’s economy, buoyed by optimistic growth forecasts and a proactive government, is on a path to surpassing expectations, according to France’s reportlinker.com on January 9.
European business leaders are increasingly optimistic about Vietnam’s economic prospects, as the country strengthens its position as a vital link in Southeast Asia despite global challenges, according to the Business Confidence Index in the fourth quarter of 2024 by EuroCham Vietnam.
Socio-economic and foreign relation achievements provide foundations for Vietnam to enter the “Era of the Vietnamese Nation’s Rise” mentioned recently by Party General Secretary To Lam, said Kyril Whittaker, British researcher of Vietnamese politics and history and member of the Communist Party of Britain.
Steady annual growth in FDI is a key driver of industrial real estate in Vietnam, according to Savills’ Asia Pacific Investment Quarterly report for the third quarter of the year.
Vietnam is rapidly emerging as one of Southeast Asia’s most dynamic economies, driven by a young and educated workforce that is making its mark on the global tech and business landscape, reported regional broadcaster Channel News Asia (CNA).
Experts suggest that the U.S. Federal Reserve's decision to cut interest rates will weaken the US dollar, easing pressure on the USD/VND exchange rate and benefiting Vietnam’s economy.
Vietnam’s economy recovered rapidly in the first half of this year after a challenging period in late 2022 and early 2023, thanks to the government’s drastic actions. Paulo Medas, head of the International Monetary Fund’s 2024 Article IV Mission to Vietnam, has spoken to Vietnam News Agency’s correspondents in Washington D.C.
Vietnam’s economy is forecast to accelerate over the next 12 months as global demand picks up and the country gradually resolves its domestic challenges.
With an impressive growth rate of 5.66% in the first quarter of 2024 amidst global economic challenges, Vietnam’s economy received positive assessments from international experts, becoming one of the most attractive investment destinations in the region.
Vietnam needs to take advantage of opportunities to overcome difficulties and keep up with global trends; and create good, better quality foundations in terms of institutions, infrastructure and human resources for breakthrough development, according to an economist.
The foreign direct investment (FDI) sector maintained its role as an export pillar of Vietnam’s economy with revenue of 43.2 billion USD in the first two months of this year, up 14.7%, and accounting for 72.8% of the country’s total export value.
The trend towards economic recovery continued in Vietnam, with each successive month revealing further improvements over the previous month and each subsequent quarter surpassing the prior quarter. The country essentially achieved its overall goals and posted significant results in various sectors. It remained a bright spot amid a rather challenging global economic landscape.
