International financial institutions optimistic about Vietnam’s economic growth
Many international financial institutions have expressed their optimism about Vietnam’s GDP growth, and shared the view that it would reach at least 6% this year.
Many international financial institutions share the view that it would reach at least 6% this year. (Photo: VNA)
HCM City (VNA) - Many internationalfinancial institutions have expressed their optimism about Vietnam’s GDP growth,and shared the view that it would reach at least 6% this year.
Standard Chartered Bank expected Vietnam to have arobust GDP growth of 6.7% in 2024 (6.2% and 6.9% in the first half and secondhalf of the year, respectively).
“Vietnam continues to offer a promising medium-termoutlook. To maintain rapid growth and competitiveness, Vietnam needs to upgradeinfrastructure and prepare to lower carbon emissions,” said Tim Leelahaphan,Economist for Thailand and Vietnam, Standard Chartered.
According to the economist, retail sales andindustrial production have stayed robust despite the recent moderation. Exportsand imports are starting to recover, though electronics-related trade remainstentative. Given re-emerging inflation concerns, inflation is anticipated topick up to 5.5% in 2024 from 3.3% in 2023.
HSBC also said Vietnam’s GDP is on a firm recoverytrack and growth can reach 6% this year. The bank expected Vietnam’s inflationto be at 3.4% this year, much lower than the target of 4-4.5%.
Meanwhile, Michael Kokalari, a chartered financialanalyst and chief economist at VinaCapital, forecast that the nation's GDPgrowth will increase to 6-6.5% in 2024 from 5.1% last year.
After a challenging 2023, all indications are that 2024should be a stronger year for Vietnam’s economy, driven by a rebound inmanufacturing and improvement in consumer sentiment, he said.
Besides, the steady fall in interest rates through2023 should help boost the real estate market after having helped support thestock market last year, he added./.
Overcoming the fluctuations from the global economic landscape and internal constraints in 2023, Vietnam's economy continued its trajectory of recovery, with inflation kept under control and key balances safeguarded.
Vietnam’s gross domestic product (GDP) in 2023 is estimated to have increased 5.05% compared to 2022, surpassing only the growth rates posted in 2020 and 2021 during the 2011-2023 period.
The Vietnamese economy did recover in 2023, Dr. Can Van Luc affirmed, describing quarter-over-quarter growth, rebounded sectors, and impressive results in economic integration as three highlights last year.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Many international financial institutions share the view that it would reach at least 6% this year. (Photo: VNA) 
