Standard Chartered Bank expected Vietnam to have a robust GDP growth of 6.7% in 2024 (6.2% and 6.9% in the first half and second half of the year, respectively).

Many international financial institutions share the view that it would reach at least 6% this year.

“Vietnam continues to offer a promising medium-term outlook. To maintain rapid growth and competitiveness, Vietnam needs to upgrade infrastructure and prepare to lower carbon emissions,” said Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered.

According to the economist, retail sales and industrial production have stayed robust despite the recent moderation. Exports and imports are starting to recover, though electronics-related trade remains tentative. Given re-emerging inflation concerns, inflation is anticipated to pick up to 5.5% in 2024 from 3.3% in 2023.

HSBC also said Vietnam’s GDP is on a firm recovery track and growth can reach 6% this year. The bank expected Vietnam’s inflation to be at 3.4% this year, much lower than the target of 4-4.5%.

Meanwhile, Michael Kokalari, a chartered financial analyst and chief economist at VinaCapital, forecast that the nation's GDP growth will increase to 6-6.5% in 2024 from 5.1% last year.

After a challenging 2023, all indications are that 2024 should be a stronger year for Vietnam’s economy, driven by a rebound in manufacturing and improvement in consumer sentiment, he said.

Besides, the steady fall in interest rates through 2023 should help boost the real estate market after having helped support the stock market last year, he added.

Vietnamese economy offers unique opportunity for investors

As Vietnam's economy is rapidly expanding, outpacing their ASEAN peers, it presents a unique opportunity for investors, said an article published on the Israeli-based financial market news site seekingalpha.com.

Ample room for Vietnam, Japan to boost cooperation in digital economy

Vietnamese and Japanese experts exchanged views on solutions to foster cooperation in digital economy between the two countries at a forum in Hanoi on December 5.

Vietnam post-Covid-19: Macro-economy stable, major balances guaranteed

Vietnam’s economy has steadily regained its growth momentum following the Covid-19 pandemic. Its growth rate, though short of expectations, remains at the top among developing and emerging countries, with GDP in 2023 estimated at some 435 billion USD.

PM Pham Minh Chinh receives Japan’s minister of economy

Prime Minister Pham Minh Chinh received Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi in Hanoi on November 3, affirming that Vietnam always views the Northeast Asian country as a trustworthy, leading important and long-term partner.

Vietnamese, Dutch PMs attend high-tech business, green economy forums

Prime Minister Pham Minh Chinh and his Dutch counterpart Mark Rutte attended the Vietnam-Netherlands High-tech Business Forum and the 2023 Green Economy Forum (GEF) in Hanoi on November 2.

Source: VNA