Business

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.
Int’l economists optimistic of Vietnam’s GDP growth ảnh 1(Illustrative photo: VNA)

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 prediction 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 estimated to increase by 6.98 percent – the highest in the sameperiods in the last nine years.-VNA

VNA
#growth projection #Vietnam's GDP #economic expansion #retail sales #foreign direct investment #vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam aims for 6.8 percent GDP growth in 2020

Vietnam aims for 6.8 percent GDP growth in 2020

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.
Vietnam’s nine-month GDP growth hits 9-year record high

Vietnam’s nine-month GDP growth hits 9-year record high

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.

See more

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.

Tourists from Tashkent to Da Nang (Photo: VNA)

Da Nang launches direct air route to Uzbekistan

Nguyen Thi Phuong, President of Prestige DMC Vietnam, noted that the charter service from Tashkent to Da Nang is being operated through a partnership between Prestige DMC Vietnam, Red Island Company, Centrium-Air Airways, and Prestige Travel Uzbekistan.

ASEAN, China promote cross-border payments

ASEAN, China promote cross-border payments

In the first quarter of 2025, the value of RMB transactions between China and Malaysia reached 102 billion RMB (4 billion USD), up 27% year-on-year, while transactions with Cambodia reached 5 billion RMB (686 million USD), an increase of 45% compared to the same period in 2024.

Vietnamese Ambassador to China Pham Thanh Binh (left) and Chairman of the China Council for the Promotion of International Trade Ren Hongbin. (Photo: VNA)

Vietnam, China eye deepening trade promotion cooperation

The Vietnamese Embassy is ready to act as a bridge in facilitating cooperation between the China Council for the Promotion of International Trade (CCPIT) and Vietnamese partners, as well as in connecting enterprises from both countries, said Ambassador Pham Thanh Binh.

PM Pham Minh Chinh speaks at the meeting. (Photo: VNA)

PM calls for bold, accelerated action in railway development

Prime Minister Pham Minh Chinh has urged ministries, agencies, and localities to act with “greater speed and boldness” to carry out Vietnam’s railway projects at the second meeting of the Steering Committee for key national railway projects in Hanoi on April 26.

Vietnamese Ambassador to Cambodia Nguyen Minh Vu meets with leaders and staff of three rubber companies in Kampong Thom province, Cambodia. (Photo: VNA)

Vietnam, Cambodia deepen investment links in Kampong Thom

Vietnamese Ambassador to Cambodia Nguyen Minh Vu on April 25 paid a working visit to several subsidiaries of the Vietnam Rubber Group (VRG) in Kampong Thom province, and held discussions with provincial leaders to enhance coordination and create more favourable conditions for Vietnamese firms, thereby promoting stronger bilateral investment ties.

Can Tho leaders and Bestway Group executives perform the symbolic launch ceremony for the new project. (Photo: VNA)

Bestway International launches 300 million USD plant in Can Tho city

Once operational, the plant is projected to create over 5,000 direct jobs and generate approximately 500 million USD in annual revenue, primarily through exports. The project is expected to significantly enhance regional employment and economic growth, contributing to Can Tho’s development and the broader Mekong Delta region.

Tra fish processed for export in Dong Thap province (Photo: VNA)

World Bank forecasts Vietnam's GDP growth at 5.8% in 2025

As a trade-oriented economy, with imports and exports representing almost 170% of the GDP, Vietnam is particularly exposed to ongoing shifts in global trade policies. The US remains the largest export destination of Vietnam, accounting for 30% of its total exports, while China makes up 38% of its imports.

Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien (Photo: VNA)

US calls tariff talks with Vietnam productive

US Trade Representative Jamieson L. Greer and Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien agreed on the importance of making swift progress towards reciprocal and balanced trade between the US and Vietnam.

The working delegation from the Party Central Committee's Commission for Information, Education and Mass Mobilisation inspects the resettlement area for residents affected by the Ninh Thuan 1 Nuclear Power Plant project. (Photo: VNA)

Ninh Thuan asked to gain public support for nuclear power plant project

Pham Van Hau, Permanent Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Council, stated that recognising the importance of the project, the province has developed specific plans and a roadmap for its implementation. This includes focusing on effective communication efforts to gain high consensus among officials, Party members, and people.