Ho Chi Minh City’s economy is expected to rebound in the second quarter and is likely to achieve a growth of 8% in 2024, according to a report.
According to the report titled “Ho Chi Minh City Macroeconomic Report: 2023 Results and 2024 Forecast”, the city’s economy is forecast to continue to recover in 2024.
Reaching a growth target of 7.1-8% this year is possible if the global economy continues to recover favourably and measures to promote total demand are effectively implemented in the city, it said.
Based on data from the last quarter of 2023, the report indicated stable economic recovery in the country’s largest city.
Total demand recovery is indicated in various indicators related to consumption, investment, and exports, it added.
Major export markets for HCM City and Vietnam as a whole, including the US, the EU, and China, are expected to grow at a modest pace, posing a challenge in promoting total demand recovery for the city./.
