Vietnam Adb

The industrial sector continues to be a primary driver of growth, with external demand for major electronics fueling production.

The Government's best-case growth scenario for 2024 is 6.5-7%, higher than the goals set by the National Assembly and forecasts by international organizations.

In 2024, amid subdued global demand and ongoing geopolitical tensions, Vietnam's export-led growth faces challenges in full recovery. To counter this, proactive domestic policies are needed to stimulate demand and improve the business climate.

Read the Hanoi Times for more updates about Vietnam.

The Government's ability to balance monetary and fiscal policies helps ensure a high degree of resilience to global challenges beyond its control.

Vietnam’s government bond yields climbed across all tenors for September 1 - November 10 driven by a rise in inflation and the US Federal Reserve’s decision to keep interest rates high for an extended period.

Accelerated government spending is expected to boost demand in the remaining months of the year.

Vietnam’s economic growth is expected to expand by 5.8% in 2023 and later rebound to 6.0% in 2024.

Much remains to be done for Vietnam to reach the goal of becoming a developed country by 2045, but it is moving in the right direction.

The Government needs to create the right conditions for Vietnamese enterprises to be independent in creativity and innovation, a key factor contributing to the economy’s self-reliance.