Vietnam's economy will grow by 6.6% this year and at a similar rate in 2024, according to a report released on March 31 by the Organisation for Economic Co-operation and Development (OECD).
Paris (VNA)🍸 – Vietnam's economy will grow by 6.6%this year and at a similar rate in 2024, according to a report released onMarch 31 by the Organisation for Economic Co-operation and Development (OECD).
The report “The Economic Outlook for Southeast Asia, Chinaand India 2023: Reviving tourism post-pandemic” states that Vietnam’s economicgrowth is driven by foreign investment in the manufacturing sector, especiallyelectronics, machine manufacturing, textiles and footwear, and benefits from China's loosening of COVID-19 prevention and control measures.
At this rate, the OECD believes that Vietnam continues tolead the top five largest economies in Southeast Asia. The Philippines isforecast to reach growth of 5.7% in 2023 and 6.1% in 2024, Indonesia at 4.7%and 5.1%, Malaysia at 4.0% and 4.2%, and Thailand at 3.8% and 3.9% in thesame period.
𝓀 The report says that the end of support programmesafter the COVID-19 pandemic will create favourable conditions for Vietnam toimprove its public financial situation. However, weaker demand is likely toreduce investment in the Vietnamese economy. The report also recommends thecountry continue to closely monitor inflation trends.
As tourism was among the sectors most affected by both theCOVID-19 pandemic and responses to it, the report highlights the economicimpact of tourism in the region and explores how the sector can be reshaped toregain its significant role in Emerging Asia. The interruption of tourism allowed countries in the regionto consider reforms in the sector, including diversifying tourism markets andaddressing labour market challenges, while catering to the new needs andpreferences of the post-pandemic world, prioritising sustainable andenvironmentally responsible activities, and accelerating digitalisation./.
The Singapore-based United Overseas Bank (UOB) anticipates the State Bank of Vietnam (SBV) will cut its refinance rate in the second quarter this year by 100 basis points to 5.00%.
Vietnam’s gross domestic product (GDP) has grown about 3.32% year on year in the first quarter of 2023, according to the General Statistics Office (GSO).
The United Overseas Bank (UOB) has lowered its 2023 economic growth forecast for Vietnam from 6.6% to 6% due to a low base in the first quarter (Q1) of this year.
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.
Illustrative photo (Photo: VNA) 
