Workshop discusses Vietnam and global economic outlook
VOV.VN - Standard Chartered Bank Vietnam hosted a workshop in Ho Chi Minh City on February 20 to discuss both Vietnam’s and the world’s economic outlook in the first half of the year, as well as other key economic trends shaping global and local markets.
In her opening remarks, Nguyen Thuy Hanh, CEO and head of Banking & Coverage of Standard Chartered Vietnam, emphasised the country’s resilience as one of ASEAN’s most dynamic economies.
“Vietnam has in recent decades posted consistently high growth rates, even in the face of periodic challenges, transforming into a thriving upper middle-income economy. As an international bank with over 120 years in Vietnam, Standard Chartered is dedicated to driving growth, innovation, and sustainable development in this market. By collaborating with our clients and partners, we are committed to fostering a more inclusive approach to sustainable finance, supporting Vietnam’s 2050 net zero goal, and driving growth and prosperity for the country,” she said.
The workshop also featured in-depth presentations and a panel discussion held with senior economists of Standard Chartered, providing insights into the global economic outlook and local market dynamics.
Edward Lee, chief economist for ASEAN and South Asia of Standard Chartered Bank, noted that global growth is set to remain subdued, with GDP easing from 3.2% last year to 3.1% this year. Inflation is projected to ease but Fed rate-cut expectations will be lowered.
Tight monetary conditions, fiscal pressures, and geopolitical uncertainties may all continue to impact global markets, he stressed.
For Vietnam, Tim Leelahaphan, senior economist for Vietnam and Thailand of Standard Chartered Bank, projected strong GDP growth of 6.7% in 2025, driven by continued business expansion this year and beyond, with foreign investment playing a key role in driving growth forward.
He pointed out the drivers of Vietnamese economic growth include positive FDI growth with manufacturing attracting the most investment, followed by the property sector, strong retail sales and industrial production, robust export growth, and tourism recovery.
Standard Chartered lifts forecast for Vietnam’s 2024 GDP growth to 6.8%
Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%, reflecting the stronger-than-expected expansion in the third quarter of this year.
