Vietnam still has significant potential to increase the presence of institutional investors in both markets. As such, the stock market status upgrade is just the first step in attracting these investors.
Vietnam’s GDP was estimated to expand 7.1% in 2024, surpassing the Government’s 6.5% target, thanks to supportive monetary policies and strong retail sales.
Vietnam's Gross Domestic Product (GDP) in 2024 is estimated to grow by 7.09% compared to 2023. This growth rate is second only to the figures recorded in 2018, 2019, and 2022 within the 2011-2024 period.
While major economies struggle to regain growth momentum, Vietnam is seen as a bright spot with positive growth prospects and is expected to reach 6.5%.
Digital transformation and innovation are emerging as the "buzzwords" shaping the future of Vietnamese economy. The year 2025 is expected to mark a major turning point, driven by the robust integration of Industry 4.0 technologies.
The mergers and acquisitions (M&A) market is eyeing a booming year in 2025 when delayed deals are likely to resume thanks to a better business environment, according to experts.
International organisations and experts have made positive comments on the Vietnamese economy, affirming their optimism about Vietnam's economic outlook.
Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam by 0.5 percentage point to 6.4% this year from the previous projection of 5.9%.
An economist of the Asian Development Bank (ADB) has emphasised the need to strengthen the resilience of the Vietnamese economy against natural disasters given the devastating consequences of Typhoon Yagi, the strongest to hit Vietnam in decades, and its aftermath.
Over the past six months, the Vietnamese economy has recorded many important and encouraging achievements, showing the economy’s rebouncing to the pre-COVID-19 level, with many bright spots.
The Southeast Asian economies remain steadfastly resilient and delivered credible economic growth in the second quarter of 2024, with Vietnam and the Philippines continuing as the region’s top two performing economies, growing at 6.9% and 6.3%, respectively, according to McKinsey & Company, a US multinational strategy and management consulting firm.
Favorable fundamentals have positioned Vietnam as a prime destination for foreign direct investment, even as it outperforms its ASEAN peers, HSBC said in its latest report titled “Vietnam at a glance: FDI - Back to the basics”.
Prime Minister Pham Minh Chinh has recently signed a decision on the establishment of a national steering committee on semiconductor industry development. This is the newest effort of Vietnam to develop the industry in the country.
The Ministry of Industry and Trade (MoIT) has expressed its regret that the US Department of Commerce (DOC) on August 2 issued a determination according to which although many positive changes have been recorded in Vietnam's economy in recent years, Vietnam continues to be classified as a non-market economy.
Prime Minister Pham Minh Chinh on July 18 chaired a meeting with heads of Vietnamese representative agencies abroad to discuss the promotion of economic diplomacy to boost the country's economic growth in the second half of 2024 and the following years.
The Vietnamese economy is likely to expand by close to 6% in 2024, driven by a recovering export sector, robust foreign direct investment, and policy support, the International Monetary Fund (IMF) said on June 26.
