Bloomberg gives positive economic outlook for Vietnam in 2024
The website Bloomberg.com of the US on January 8 cited analysts' opinions, saying that the State Bank of Vietnam (SBV), among the first in Asia to lower borrowing costs in 2023, willl likely keep its benchmark interest rate steady through next year as it tackles economic growth and inflation concerns.
A factory in the Du Long Industrial Park in Thuan Bac district, Ninh Thuan province. - Illustrative image (Photo: VNA)
Hanoi (VNA) – Thewebsite Bloomberg.com of the US onJanuary 8 cited analysts' opinions,saying that the State Bank of Vietnam (SBV), among the first in Asia to lower borrowing costsin 2023, willl likely keep its benchmark interest rate steady through next year as ittackles economic growth and inflation concerns.
Bloomberg’s latest survey shows that therefinancing interest rate, currently at 4.5%, is seen to stay on hold through 2025, inthe backdrop of a rebound in gross domestic product growth backed by strongexports. The rate was cutthrice between April and June last year to 4.5% from a peak of 6%.
In a previous survey, economists hadexpected a further 50 basis points of cuts during the current January-March period.
A view of HCM City from above - Illustrative image (Photo: VNA)
Analystsalso raised their headline inflation forecasts for 2024, now expecting pricegains at 3.6% this quarter and at 4.05% in the next, up 0.7% and 0.75 % compared to the same periods last year,respectively.
They expect the annual inflation to average afaster 3.5% this year from 3% earlier, before easing to 3.2% in 2025. The 2024 levelis still below the government’s targeted range of 4%-4.5%.
According to Bloomberg, the SBV is likely to keep the policy interest rate unchanged in the coming time, and this means that the heavy lifting — of returning economic growth to above 6%by attracting investors and encouraging spending - will be left to thegovernment.
The Vietnamese economy is likely to grow 6.3% in the first quarter, and 6.5%in the April-June period. Vietnam’s GDP growth is forecast at 6% for this year, and 6.4% next year, said Bloomberg’s survey.
Han Teng Chua, an economist at DBS Bank Ltd, said Vietnam’seconomy is recovering, adding that foreign direct investment is likely to remain forthcoming,with Vietnam staying attractive over the coming years, as companies diversifyand derisk their supply chains by expanding into the Southeast Asian country.
Competitive wage costs, a wide network of trade agreements andsupportive business environment are key advantages for the Vietnamese economy, he stated./.
Vietnam’s economic growth accelerated faster than expected in the second quarter of this year, as a recovery in exports and manufacturing helped offset risks from coronavirus outbreaks and rising oil prices, Bloomberg reported.
Vietnam is on track this year to bump Britain from its long-time place among the US’s top seven goods trading partners, according to an article run by Bloomberg on December 19.
Bloomberg has published an article entitled “Silicon Valley talent is helping grow Vietnam’s startup hub”, which quotes founders as saying that an abundance of high-quality engineers, inexpensive labour, and a rapidly-growing economy make the country an attractive spot for startups.
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.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
A factory in the Du Long Industrial Park in Thuan Bac district, Ninh Thuan province. - Illustrative image (Photo: VNA) 
A view of HCM City from above - Illustrative image (Photo: VNA) 
