Standard Chartered Bank maintained robust 2024 GDP growth forecast of 6.7% for Vietnam in its latest macro-economic updates about the Southeast Asian nation.

VOV.VN - The Ministry of Economic Development, Job Creation and Trade in the Canadian province of Ontario in coordination with the Vietnam Trade Office in Canada on October 24, co-hosted a workshop reviewing 5 years of carrying out the Comprehensive and Progressive Agreement for Trans-Thailand Partnership (CPTPP), while promoting trade and investment in Vietnam amid Canada implementing the Indo-Pacific Strategy.

VOV.VN - Vietnam’s GDP growth is projected to slow down from 8% in 2022 to 4.7% in 2023 before rising to 6.5% in 2024, according to Michael Kokalari, CFA. Chief Economist at VinaCapital.

Although Vietnam’s economy showed signs of recovery in the third quarter of this year, particularly in industrial production and exports, a significant increase in headline inflation has emerged as a cause for concern, prompting scrutiny from policymakers.

Experts from the International Monetary Fund (IMF) maintained their forecast for Vietnam’s GDP growth at 4.7% in 2023 but expressed their optimism about the medium-term prospects, with GDP growth predicted to reach 5.8% in 2024 and 6.9% in 2025.

Vietnam’s economy has made good recovery since the beginning of this year; however, inflation risks could weight on the country’s growth outlook, according to experts.

Foreign investors have increased their net buying since the end of September, indicating that they still see the bright prospects of Vietnam’s economy and find its stock market attractive in the medium and long term.

Prime Minister Pham Minh Chinh affirmed that businesses and entrepreneurs play a crucial role in the cause of national construction and development when he chaired a hybrid meeting between permanent cabinet members and outstanding businesspeople in Hanoi on October 11.

President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong on October 11 called on associations and businesses to pool resources to enhance competitiveness and boost innovation to become a core force in implementing industrialisation and modernisation, and building an independent, self-reliant and prosperous economy.

Experts have emphasised the need for Vietnam to exert great efforts in the last three months in order to reach the yearly growth target of 6%.