Int’l organisations share positive outlook for Vietnam’s economy
Vietnam's economy is experiencing a surge, fueled by strong export and industrial production, according to a series of reports from international organisations.
Hanoi (VNA)🐻 – Vietnam's economy is experiencing a surge, fueled by strong export and industrial production, according to a series of reports from international organisations.
The International Monetary Fund (IMF) expressed optimism in its 2024 Article IV consultation with Vietnam. Its head Paulo Medas predicted a nearly 6% growth for the Vietnamese economy in 2024, supported by robust external demand, stable foreign direct investment (FDI), and recent policy adjustments. Inflation is expected to stay within the State Bank of Vietnam (SBV)'s target range of 4-4.5% this year.
The fund welcomes Vietnam's efforts to streamline the real estate sector by amending the Land Law and other related regulations, he said, stressing the need for Vietnam to continue restructuring struggling property developers and fostering a healthy corporate bond market.
The Standard Chartered Bank released an update projecting Vietnam's GDP growth at 5.3% in the second quarter. Its experts forecast significant growth in retail sales (8.2% year-on-year) and exports (14.2%) for June. The electronics export sector is expected to maintain its upward trajectory throughout the year.
Import growth and industrial production are anticipated to reach 26% and 5.2%, respectively, in June. Inflation may rise slightly to 4.5% from 4.4% in May, marking the third consecutive month it stayed above 4%. Rising costs in education, housing, health care, and food are driving this inflation, and the trend is likely to continue in the coming months.
A World Bank (WB) report dated June 19 indicated a 2.6% month-on-month increase in Vietnam's industrial production index (IIP) for May. This growth was primarily driven by the manufacturing and processing sectors, particularly machinery, equipment, computers, and electronics. The report highlighted a notable rise in the import of intermediate goods, suggesting strong demand from trade partners and potentially even higher export levels in the near future.
As of the late May, FDI commitments reached 11.07 billion USD, reflecting a 2% year-on-year rise. Cumulative FDI disbursements also saw an uptick, reaching 8.3 billion USD (up 7.8% annually), with most flowing into manufacturing, processing, and real estate.
Meanwhile, the Asian Development Bank (ADB) reported a 7.7% growth in Vietnam's local currency bond market in the second quarter compared to the previous one, which was attributed to increased government bond issuances and the SBV's resumption of issuing treasury bills in March. Treasury and other government bonds rose by 3.3% in Q2 to support government funding needs. In contrast, corporate bonds fell by 0.9% due to a large volume of maturing bonds and low issuance volume.
Vietnam's sustainable bond market, comprised primarily of green bonds issued by individual enterprises, reached a size of 800 million USD by the end of March. Most of them have short maturities./.
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 Asian Development Bank (ADB) and Lien Viet Post Joint Stock Commercial Bank (LPBank) on June 12 signed a financing package of up to 80 million USD to expand access to finance for a women-owned small and medium-sized enterprises (WSMEs) project in Vietnam.
In its most recent macro-economic updates about Vietnam, Standard Chartered Bank forecasts Vietnam’s Q2 GDP growth to moderate to a still-strong 5.3% year-on-year (from 5.7% in Q1).
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.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
