Business

Fitch Ratings optimistic about Vietnam's economic growth

Credit ratings agency Fitch Ratings on November 9 forecast Vietnam’s GDP growth to accelerate to 6.3% in 2024 and 7.0% in 2025.
Fitch Ratings optimistic about Vietnam's economic growth ảnh 1Vietnam’s GDP growth is expected to accelerate to 6.3% in 2024 and 7.0% in 2025, according to Fitch Ratings. (Photo: VNA)
Hanoi (VNA) – Credit ratings agencyFitch Ratings on November 9 forecast Vietnam’s GDP growth to accelerate to 6.3%in 2024 and 7.0% in 2025.

Domestic fiscal and monetary policies have pivotedto provide growing support to the economy, the agency said.

It noted that the country’s growth slowed to 4.3% inthe first nine months of this year amid weak external demand and lingeringheadwinds in the domestic property sector.
Fitch Ratings optimistic about Vietnam's economic growth ảnh 2Illustrative image (Source: VNA)
Earlier, Standard Chartered Bank maintained robust2024 GDP growth forecast of 6.7% for Vietnam in its latest macro-economicupdates about the Southeast Asian nation.

Experts from the International Monetary Fund (IMF) alsoexpressed their optimism about the medium-term prospects, with the national GDPgrowth predicted to reach 5.8% in 2024 and 6.9% in 2025.

The 15th National Assembly (NA) onNovember 9 adopted a resolution on the socio-economic development plan for2024, which sets a target of 6.0 - 6.5% growth in GDP for the year, as part ofits ongoing sixth sitting./.
VNA
#Fitch Ratings #GDP growth #property sector #IMF #Vietnam #VietnamPlus #Vietnam news
Follow VietnamPlus

Related News

NA sets target of 6.5% GDP growth in 2024

NA sets target of 6.5% GDP growth in 2024

With 90.49% of approval votes, the National Assembly (NA) on November 9 adopted a resolution on the socio-economic development plan for 2024, which sets a target of 6.0 - 6.5% growth in gross domestic product (GDP) for the year.

See more

Prime Minister Pham Minh Chinh chairs the meeting (VNA)

PM urges proactive engagement with US on trade talks

Trade negotiations with the US must be calm, consistent, and flexible, aiming to protect national sovereignty, security, and interests, while upholding international commitments and pursuing “balanced interests, shared risks," said Prime Minister Pham Minh Chinh.

Fisshing vessels in Quang Binh province (Photo: VNA)

Vietnam races against time to have EC’s "yellow card" lifted before Sept. 15

The Ministry of Agriculture and Environment particularly focused on resolving all EC concerns before September 15, the deadline for submitting a progress report to the commission, as well as ensuring thorough preparations for the fifth inspection so as to secure the removal of the “yellow card” warning.

Investment in artificial intelligence surges eightfold compared to 2023 (Photo: VNA)

Investment in AI in Vietnam increases eightfold

Vietnam is entering a new phase of growth, where innovation, science, and technology are at the forefront of shaping its future. From being an emerging market, Vietnam has now risen to become a strategic destination for technology investment in Southeast Asia, driven by the aspirations of the entrepreneurial community and strategic guidance from the government

The talks between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Cambodian Minister of Commerce Cham Nimul on April 28 (Photo: VNA)

Vietnam, Cambodia seek ways to bolster economic, trade ties

Vietnam and Cambodia inked an agreement on promoting bilateral trade for the 2025–2026 period, which provides preferential tariffs for many competitive goods from each side – much more favourable than those under the ASEAN Trade in Goods Agreement (ATIGA).

President of Vietnam Luong Cuong (10th from left), Party General Secretary and President of Laos Thongloun Sisoulith (ninth from left), and officials of the two countries at the inauguration ceremony of Wharf No. 3 of Lao - Viet International Port on April 28 (Photo: VNA)

New wharf at Lao - Viet Int’l Port inaugurated

The launch of Wharf No. 3 of Lao - Viet International Port expected to help ensure infrastructure for socio-economic development in both Vietnam and Laos, meeting the increasing demand for goods transportation.

Vietnamese Ambassador to Brazil Bui Van Nghi (centre), who is concurrently in charge of Peru pays a courtesy visit to Peru's Deputy Foreign Minister Felix Denegri Boza. (Photo published by VNA)

Vietnam, Peru step up economic and trade cooperation

Peru is currently Vietnam’s sixth-largest trading partner in Latin America. However, the trade value, standing at 518 million USD, remains modest compared to the potential and real demand between the two complementary economies.

Permanent Deputy Prime Minister Nguyen Hoa Binh speaks at the meeting with representatives from ministries, agencies, international institutions, banks, investment funds and investors in Hanoi on April 28. (Photo: VNA)

Deputy PM vows optimal conditions for firms to expand investment in int’l financial centres

Speaking at a meeting with representatives from ministries, agencies, international institutions, banks, investment funds and investors in Hanoi, Binh said that the Government of Vietnam is committed to always accompanying businesses, creating the most favourable conditions for enterprises to expand their investment in international financial centres in Vietnam as well as invest in other ecosystems that they are interested in.

Tunisia’s demand for imported goods remains high, especially for essential commodities such as raw coffee, rice, and sugar. Illustrative image (Photo: VNA)

Vietnam, Tunisia boost economic and trade cooperation

In 2024, trade between Vietnam and Tunisia reached 267 million USD, almost tripling the figure recorded in 2023. Vietnam’s main exports to Tunisia included footwear, raw coffee, pepper, cashew nuts, seafood, and machinery, while Vietnam imported seafood, dates, chemicals, and animal feed materials from Tunisia.

Local carmaker Kim Long Motor company and Korean Daon Mobility ink an agreement on exporting the local brand bus into the Korean market. Photo courtesy of Kim Long Motor (

Local carmaker to export buses to RoK

It’s expected that the first batch of 50 electric EV Buses will be delivered to the Republic of Korea (RoK) for operation in the second quarter this year.