The Asian Development Bank (ADB) has predicted that Vietnam’s economy will maintain healthy growth in 2019 and 2020 at 6.8 percent and 6.7 percent, respectively, after growing robustly at 7.1 percent last year.
Goods are loaded at the Hai Phong International Container Terminal in the northern city of Hai Phong (Photo: VNA)
Hanoi (VNA) – The Asian Development Bank (ADB)has predicted that Vietnam’s economy will maintain healthy growth in 2019 and2020 at 6.8 percent and 6.7 percent, respectively, after growing robustly at7.1 percent last year.
In its Asian Development Outlook 2019 Updatelaunched on September 25, ADB noted that while Vietnam’s gross domestic productgrowth moderated in the first half of 2019, it will remain resilient this yearand next year despite a weaker external environment.
Inflation forecasts are revised down to 3percent from 3.5 percent for 2019 and 3.5 percent from 3.8 percent for 2020.
According to ADB, the recent signing of a freetrade agreement with the European Union and the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership promises to further open market accessfor trade and investment. A recent amendment to the Public Investment Lawshould improve public investment by accelerating processes, simplifyingprocedures and enabling faster disbursement of public investment.
While retaining the growth outlook for Vietnamfor this year and the next, the report also highlighted significant risks tothe forecast. Further escalation of the US-China trade tension and continuingglobal economic slowdown could shrink global trade, which will adversely impactthe country’s trade performance and economic growth.
ADB Country Director for Vietnam Eric Sidgwicksaid despite a slowdown in export growth due to the escalation of the tradeconflict between the US and China and the consequent downturn in global trade,“the economy remains healthy thanks to continued strength in domestic demandand sustained inflows of foreign direct investment.”
“Prospects for domestic consumption continues tobe positive, supported by rising incomes, buoyant employment, and moderateinflation,” he added./.
Economists have forecast that the Vietnamese economy could grow by 6.86 percent this year, higher than the 6.6 – 6.8 percent set by the National Assembly.
Minister of Planning and Investment Nguyen Chi Dung has stressed the urgent significance of improving labour productivity in promoting growth, overcoming the middle-income trap, avoiding falling behind and narrowing down development gap with other countries.
Vietnam's private consumption growth will remain strong, supported by improvements in the labour market as youth unemployment falls, minimum wages grow and lower inflation levels prevail, experts forecast.
Vietnam needs to renew its real estate market to attract more foreign investors and increase the quality of foreign direct investment (FDI) in the sector, according to experts.
Prime Minister Nguyen Xuan Phuc emphasised Vietnam’s aspiration to develop a strong economy in his speech at a plenary session of the Vietnam Reform and Development Forum (VRDF) 2019 in Hanoi on September 19.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
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.
Goods are loaded at the Hai Phong International Container Terminal in the northern city of Hai Phong (Photo: VNA) 
