The Ministry of Planning and Investment has provided updates for economic growth scenarios in the second half of this year, in which the Vietnamese economy could beat forecasts and expand at 7% for the full year.

The Ministry of Planning and Investment has revised two scenarios for Vietnamese economic growth this year after recording a high growth rate of 6.42% during the first half of the year, with high hopes of securing a 7% rate by the end of the year.

According to UOB experts, Vietnam’s real GDP grew by 6.93% year-on-year in Q2, continuing the momentum from the 5.87% increase in Q1 and previous quarters.

New and effective price incentives are needed not only from the aviation and tourism sectors, but also from localities and destinations so as to attract more visitors.

According to the GSO, the country’s GDP growth in the first six months was 6.42 per cent year-on-year.

Vietnam's economy is experiencing a surge, fueled by strong export and industrial production, according to a series of reports from international organisations.

The GDP for the first six months of 2024 increased by 6.42%, slightly lower than the growth rate of 6.58% in the first six months of 2022. Notably, GDP in the second quarter continued its recovery trajectory.

Overseas investment activities of Vietnamese enterprises show promising growth but also come with significant potential risks. To avoid major setbacks, it is crucial to plan for contingencies right from the start.

The recovery in tourist arrivals is expected to continue, adding more than 1 percentage point to Vietnam’s GDP growth this year, Michael Kokalari, a chartered financial analyst and chief economist at VinaCapital, has said.

The Vietnamese economy is likely to expand by close to 6% in 2024, driven by a recovering export sector, robust foreign direct investment, and policy support, the International Monetary Fund (IMF) said on June 26.

Vietnam’s export turnover in the first half of this year expanded by 13.8% year-on-year to an estimated 188.97 billion USD, the Ministry of Industry and Trade (MoIT)’s Planning and Finance Department has reported.

Vietnam’s economic growth in the second quarter of 2024 and June are likely to reach 6.2% and 6% respectively as set by the Government.

The development of a separate decree on innovation and innovative start-ups is underway with an aim to leverage innovative start-up firms to a new height.

The number of elderly people is forecast to represent 17 per cent of the total population by 2030, rising to 25 per cent by 2050.

In 2025, UOB expected the Vietnamese economy to grow at 6.4%

The national economy is facing a number of challenges, including ensuring growth and curbing inflation after many years of maintaining macroeconomic stability and controlling the rate of inflation at below 4%.

Investors has sound confidence and positive outlook about Vietnam’s economy in 2024, according to Savills Vietnam’s report “Asia Pacific Investment Quarterly Q1/2024” (APIQ).

Vietnam’s trade surplus hit 8.01 billion USD during January – May, with 156.77 billion USD in export revenue and 148.76 billion USD in imports, up 15.2% and 18.2% year-on-year, respectively, the General Statistics Office announced on May 29.

Resolution 43 on socio-economic recovery with unprecedented policies has brought desired effects, helping Vietnam make a soft landing.

Promoting a circular economy that contributes to the country's net-zero commitment will bring many benefits to Vietnam and businesses.