Int’l economists optimistic of Vietnam’s GDP growth
Economists are upgrading their growth projections for Vietnam after the latest data showed the economy surged more than 7 percent in the third quarter, according to Bloomberg.
Hanoi (VNA) - Economists are upgrading their growth projections forVietnam after the latest data showed the economy surged more than 7 percent inthe third quarter, according to Bloomberg.
Citigroup Inc. revised its full-year forecast of Vietnam’s GDP to 6.9percent from 6.7 percent, on the basis of another solid performance in thefourth quarter.
Analysts at Maybank Kim Eng Research Ltd. also lifted their forecast ofVietnam’s economic expansion to 7 percent from their previous predicti🐻on of 6.8percent.
Meanwhile, United Overseas BankLtd. changed to 6.8 percent for the year from 6.7 percent, and CapitalEconomics Ltd. kept their projection of 7 percent, Bloomberg said.
Solid exports and manufacturing growth enabled thethird-quarter gain of 7.31 percent. Theexpansion was the highest since the start of last year, and reflectsgrowing foreigninvestment into Vietnam.
According to two economists of Maybank – Linda Liu and Chua Hak Bin, risingforeign direct investment and “buoyant domestic demand, as suggested by the recentrobust retail sales growth”, will keep the momentum going through the year-endand in early 2020.
Currently, many international financial institutions are issuing very positiveassessments about the prospects of Vietnam's economy in the coming time.
HSBC predicts that inflation in Vietnam will be kept below 2.7 percent, whileGDP growth is expected to ease to 6.7 percent in the whole year.
Edward Lee, chief economist for ASEAN and South Asia at Standard Chartered BankGlobal Research, said he believes that Vietnam will be the fastest growingeconomy in ASEAN this year with aprojected growth reaching 6.9 percent, and this is expected to continue until2021.
Accordingto the General Statistics Office, the country’s GDP in the first nine months ofthis year was esti🎉mated to increase by 6.98 percent – the highest in the sameperiods in the last nine🍷 years.-VNA
Vietnam will strive for a GDP growth of around 6.8 percent in 2020, according to Directive 16/CT-TTg on the building of socio-economic development plans and State budget estimates for 2020.
Although GDP growth in the first half of 2019 was only 6.76, well below the 7.08 percent growth rate in the same period last year, it was a good result compared to the figures from 2011-2017 period.
Prime Minister Nguyen Xuan Phuc has ordered that more drastic solutions to be taken to speed up the disbursement of public investment capital, which he described as an urgent task from now through 2020.
Vietnam’s GDP expanded 6.98 percent in the January-September period, the highest nine-month growth rate over the past nine years, said General Director of the General Statistics Office (GSO) Nguyen Bich Lam on September 28.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
(Illustrative photo: VNA) 
