The Asian Development Bank (ADB) raised its 2024 and 2025 growth forecasts for Vietnam to 6.4% and 6.6% from previous predictions of 6.0% and 6.2%, driven by stronger trade activities and ongoing fiscal stimulus measures.
At Gemalink International Port in Ba Ria - Vung Tau province. The ADB has raised its 2024 and 2025 growth forecasts for Vietnam on the back of the country's stronger trade activities. (Photo: VNA)
Hanoi (VNA) – The Asian Development Bank (ADB) raised its 2024 and 2025 growth forecasts for Vietnam to 6.4% and 6.6% from previous predictions of 6.0% and 6.2%, driven by stronger trade activities and ongoing fiscal stimulus measures.
In its latest edition of Asian Development Outlook (ADO), the bank highlighted that accelerated public investment and accommodative fiscal and monetary policies are anticipated to further stimulate domestic demand amidst external challenges.
Despite the severe impacts caused by Typhoon Yagi in various areas of the country, the Government's swift response and recovery efforts limited the impacts on growth, it stated.
The growth forecasts for Asia and Pacific were trimmed to 4.9% in 2024 and 4.8% for 2025 due to weaker domestic demand prospects in South Asia.
In the meantime, the region’s inflation rates were adjusted down to 2.7% from 2.8% in 2024 and 2.6% from 2.9% in 2025, mainly on softening global commodity prices and an expected decline in oil prices.
According to the ADB, that the incoming Donald Trump administration promises significant policy changes could affect the region’s long-term prospects. New trade, fiscal and immigration policies could dent growth and boost inflation in developing countries. However, the time it takes to enact the policies means their effects are unlikely to be felt before 2026.
♚ Southeast Asia’s growth outlook for 2024 improved, revised up to 4.7% from 4.5%, driven by stronger manufacturing exports and public capital spending in larger economy. The region’s 2025 growth forecast is 4.7%./.
An economist of the Asian Development Bank (ADB) has emphasised the need to strengthen the resilience of the Vietnamese economy against natural disasters given the devastating consequences of Typhoon Yagi, the strongest to hit Vietnam in decades, and its aftermath.
The Asian Development Bank (ADB) has approved a 2 million USD grant to assist the Government of Viet Nam in providing emergency and humanitarian services to residents affected by the super Typhoon Yagi in the northern region of the country.
President of the Asian Development Bank (ADB) Masatsugu Asakawa has written an article on finance for net-zero transition. The following is the full text of the article.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
