HSBC has raised its forecast for Vietnam’s economic growth this year to 6.9%, from the previous prediction of 6.6%, which is possibly the fastest pace in the region.
Vietnam's economy is predicted to grow by 6.9% this year, according to the latest Vietnam At A Glance report by HSBC. (Photo: VNA)
HCM City (VNA) – HSBC hasraised its forecast for Vietnam’s economic growth this year to 6.9%, from theprevious prediction of 6.6%, which is possibly the fastest pace in the region.
In the Vietnam At A Glance report inJuly, HSBC Global Research noted that decreasing risks posed by the Omicronvariant and eased restrictions have paved the way for Vietnam to return to thenormality.
Thanks to widespread recovery, thecountry recorded an impressive GDP growth rate of 7.7% in the second quarter comparedto the same period last year. The service sector, which has suffered fromsevere economic impacts, have bounced back strongly while manufacturing hascontinued growing and exports hit historic highs.
However, the growth forecast for 2023was revised down to 6.3% from 6.7% due to growing risks, especially in theenergy sector, according to the bank.
HSBC Global Research pointed outgrowing impacts of soaring energy prices. Escalating goods prices have led to tradedeficit in Q2 and may worsen the current account situation, which has not alreadybeen optimistic. On the other hand, though household consumption has recoveredsteadily, people’s budgets may suffer from high oil prices, thus deceleratingthe recent recovery speed.
Vietnam’sinflation is forecast to stand at about 3.5% this year, but it may surpass the ceiling of 4% betweenQ4 of 2022 and Q2 of 2023, requiring the State Bank of Vietnam begin normalising themonetary policy.
According to the report, Vietnam hasbenefited from economy reopening, and domestic demand has returned whileexternal drivers remain favourable. However, it is necessary to stay alert toincreasing growth risks, especially the ones posed by surging energy prices./.
Covid-19 was largely brought under control in the first 5 months of this year and the economic recovery programme was implemented thoroughly around the country, driving socio-economic development in a host of fields. The CPI, meanwhile, rose 2.25 percent year-on-year in the period.
Vietnam is targeting to control public debt below 60 percent of gross domestic product (GDP) by 2030 to ensure debt safety and national financial security.
Vietnam’s Gross Domestic Product (GDP) in the second quarter of this year was estimated to increase 7.72% year-on-year, higher than the growth rates in the same quarters during the 2011-2021 period, the General Statistics Office (GSO) reported at a press conference on June 29.
The Singapore-based United Overseas Bank (UOB) has revised up Vietnam’s 2022 GDP growth forecast to 7.0% from 6.5%, assuming no further severe domestic disruptions from COVID-19, and projected growth of around 7.6 – 7.8% in the second half of the year (H2).
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.
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.
Vietnam's economy is predicted to grow by 6.9% this year, according to the latest Vietnam At A Glance report by HSBC. (Photo: VNA) 
