The Asian Development Bank (ADB) has forecast Vietnam's Gross Domestic Product (GDP) at 6% for 2024, according to the Asian Development Outlook (ADO) released on December 13.
ADB projects Vietnam’s 2024 GDP growth at 6% (Photo: VNA)
Hanoi (VNA) - The Asian De๊velopment Bank (ADB) has forecast Vietnam's GrossDomestic Product (GDP) at 6% for 2024, according to the Asian Development Outlook (ADO) released onDecember 13.
Thebank also lowered its growth forecast for Vietnam this year to 5.2% from theprevious 5.8% forecast. ADBexperts pointed out that the weaker-than-expected recovery of external demandcontinued to impede industry and services output, thereby dragging the recoveryof jobs and domestic consumption. Theprudent and proactive monetary policy, supported by effective price controls ofgasoline, electricity, food, health care, and education, all contributed tocontaining inflation.
Processing pangasius and basa fish at Navico Nam Viet Company (NAVICO) in Long Xuyen City, An Giang. (Photo: VNA)
Inline with this, the country’s inflation is projected to remain at 3.8% forthis year before rising to 4% in 2024. Think-tanksanalysed that risks to the outlook include persistently elevated interest ratesin the US and other advanced economies, a factor which could contribute tofinancial instability occurring in vulnerable economies around the region,especially those with high debt. Furthermore,potential supply disruptions caused by the El Nino weather pattern or theRussia-Ukraine conflict could also rekindle inflation, particularly with regardto food and energy. Meanwhile,the ADB raised its economic forecast for developing economies in Asia and thePacific, following robust domestic demand which has been driven byhigher-than-expected growth in China and India. Theregional economy is therefore expected to grow by 4.9% this year, compared witha previous forecast of 4.7% in September. AlbertPark, ADB chief economist, said that developing Asia continues to grow at arobust pace, despite facing a challenging global environment, adding thatinflation in the region is also gradually coming under control. However,he pointed out several risks, including elevated global interest rates andclimate events such as El Nino, and advised governments in Asia and the Pacificto stay vigilant in order to ensure that their economies are resilient and thatgrowth is sustainable. Accordingto figures given by economists, the growth outlook for Southeast Asia this yearwas lowered to 4.3% from 4.6% amid weak demand for manufacturing exports./.
The Asian Development Bank (ADB) and the Vietnam Water Supply and Sewerage Association (VWSA) have signed a memorandum of understanding (MoU) to further strengthen their cooperation in promoting a sustainable and inclusive water sector in Vietnam, according to an ADB press release.
Vietnam’s maintaining the momentum of public investment will be crucial because it will rejuvenate economic activities, generate employment, and enhance domestic consumption, said ADB Country Director for Vietnam Shantanu Chakraborty.
The Asian Development Bank (ADB) and the State Bank of Vietnam (SBV) on October 25 held a kick-off ceremony marking the implementation of the Swiss-funded 5 million USD technical assistance, which aims to nurture financial technologies (fintech) serving the improvement of financial inclusion in Vietnam.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
ADB projects Vietnam’s 2024 GDP growth at 6% (Photo: VNA) 
Processing pangasius and basa fish at Navico Nam Viet Company (NAVICO) in Long Xuyen City, An Giang. (Photo: VNA) 
