Domestic consumption has rebounded positively, contributing to the 7.09% economic growth recorded last year. However, consumers continue to adopt a cautious approach to spending amid ongoing socio-economic challenges.
Technological innovation, technology transfer, and workforce training form the core strategy for transforming the nature of Vietnam’s economic growth in the coming years, Deputy Prime Minister Ho Duc Phoc remarked at the 17th Vietnam Economic Scenario Forum’s spring 2025 plenary session in Hanoi on January 7.
In Q1, Vietnam's economy achieved significant milestones, laying a solid foundation for growth throughout 2024. Key sectors such as agriculture, industry, and services remained vibrant, contributing to high growth rates.
Among the 1,300 European businesses inquiring about the investment climate in Vietnam, up to 63% listed the country among the top 10 destinations for foreign direct investment firms.
Vietnam’s total import-export turnover of goods hit 435.23 billion USD in the first eight months of this year, with the country posting a trade surplus of 20.19 billion USD.
The 5G services are projected to contribute 7.34 percent to Vietnam’s GDP growth in 2025, according to a research by the National Institute of Information and Communications Strategy.
Kenneth Atkinson, a board member of the British Chamber of Commerce Vietnam (BritCham Vietnam), told German news agency DW that he remains positive about Vietnam's overall economic growth in 2021.
Vietnam posted an economic growth of 6.98% in the first nine months of this year. Experts said the result gives momentum for the economy to achieve its yearly target of 6.8 percent.
Vietnam has experienced a year of socio-economic achievements. For example, economic growth continues at a high level; the macroeconomic environment remains stable; inflation is under control; the trade surplus is at record levels; and the State budget deficit is stable.
Vietnam has recorded upbeat growth despite disadvantages brought about by the withdrawal of the US from the Trans-Pacific Partnership, according a recent article published on the East Asia Forum.
The banking sector’s profits were anticipated to rise significantly in 2017, driven by the handling of bad debts and the recovery of the property sector.
Vietnam’s economy will grow at 6.5 percent in 2017 and expand to 6.7 percent in 2018, according to the Asian Development Bank (ADB)’s “Asian Development Outlook 2017” report.