WB forecasts Vietnam’s economy will expand 6 percent
The World Bank forecast that the Vietnamese economy will grow at a speed of 6 percent in 2015, according to the East Asia and Pacific Economic Update released on October 5.
The World Bank forecast that the Vietnamese economy will grow at a speed of 6 percent in 2015, according to the East Asia and Pacific Economic Update released on October 5.
The country’s poverty rate is expected to reduce with extreme poverty, which is currently set at living on 1.90 USD per day or less, tapering off from 2.8 percent in 2012 to 1 percent in 2017. Meanwhile, the population living under 3.10 USD per day is predicted to dwindle to 6.7 percent in 2017 from 12.3 percent in 2012.
Economic recovery and stable macro-economic conditions will further reduce poverty. However, slower agricultural growth will affect rural resident incomes, thus increasing the urban-rural income gap, the World Bank said.
The report also pointed to challenges facing the country, such as slow growth, unstable elements spurred by the country’s dependence on trade and decreases in the prices of rice and other farm produce.
It recommended that Vietnam outline a plan to consolidate mid-term financial conditions while carrying out reforms to fortify finances for State-owned enterprises and banks.
Meanwhile, the World Bank expected the East Asia-Pacific region’s economy to expand by 6.5 percent in 2015, lower than the 6.8 percent growth of last year.
East Asia will create global momentum as it accounts for almost two-fifths of the world’s economic growth, the World Bank said.
It highlights that the region needs to prioritise prudent macro-economic management to tackle financial issues as well as deepen economic restructuring with a focus on private investment.
Axel van Trotsenburg, World Bank Vice President for East Asia and the Pacific region, said that growth in developing East Asian-Pacific countries continues to be solid, adding that the moderating trend suggests policymakers focus on structural reforms which create a foundation for sustainable, long-term and inclusive growth.
The reforms are comprised of regulatory improvements in the finance, labour and product market and measures intensifying transparency and accountability, he said.-VNA
The World Bank (WB) expects Vietnam’s economic growth to hover around 6-6.2 percent in 2015, underpinned by further recovery in domestic demand, robust private consumption and investment growth.
Most components of the World Bank-funded Sustainable City Development Project in central Da Nang city have been kept on schedule with satisfactory outcomes, said senior urban specialist at World Bank.
The World Bank (WB) will closely work with Vietnam to complete a population report with a vision towards 2035, WB Country Director for Vietnam Victoria Kwakwa has said.
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.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Garment production for exports. (Source: VNA)
