Business

Malaysia media forecasts Vietnam’s bright medium-term outlook

Malaysia’s digitalnewsasia.com on December 20 reported findings from consulting firm Oxford Economics’ recent research commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW), saying that it offers a positive assessment of Vietnam's economy in 2023 and forecasts a bright outlook for a medium term.
Malaysia media forecasts Vietnam’s bright medium-term outlook ảnh 1Ho Chi Minh City, the southern economic hub of Vietnam (Photo: VNA)

Hanoi (VNA) – Malaysia’s digitalnewsasia.com on December 20 reported findings from consulting firmOxford Economics’ recent research commissioned by the Institute of CharteredAccountants in England and Wales (ICAEW), saying that it offers a positiveassessment of Vietnam's economy in 2023 and forecasts a bright outlook for amedium term.

According to OxfordEconomics, Vietnam has been a regional export outperformer this year, delivering a year-on-year GDP growth of 5.3% in the third quarter from 4.1%in the previous quarter. This was led by a strong recovery in the manufacturingsector thanks to rising export values amidst improvements in electronicsexports, especially to China. 

Carrying on from the Government’s increasedpublic investment in the third quarter, there is still room to boost investmentspending in the next quarter, it said.

About the Southeast Asia economy, it said economicmomentum picked up in the third quarter, but there are concerns about potentialheadwinds in 2024, including slow global growth, tourism bright spotslosing their shine, and declining private consumption. 

Southeast Asia has displayed resilient economicmomentum in Q3, with improved trade conditions driving GDP growth to surpassexpectations. Export growth in Singapore, Malaysia, and Vietnam expanded fromQ2 to Q3, with Singapore and Vietnam enjoying notable turnarounds with bothmarkets having significant footholds in the electronics trades.

However, Southeast Asia's exports will remainweighed down by a prolonged global weakness, particularly from US and China.

While inflation is likely to resume its declinefurther in the future, analysts are not expecting rate cuts until Q2 2024./.

VNA
#digitalnewsasia.com #Vietnamplus #Vietnam News Agency #Oxford Economics #regional export outperformer #increased public investment Malaysia Vietnam
Follow VietnamPlus

Related News

Vietnam’s economy to recover in H2: Standard Chartered

Vietnam’s economy to recover in H2: Standard Chartered

Vietnam’s economy will recover in the second half of 2023, with its growth forecast to pick up to 7% year-on-year from the 3.7% in the first half, Standard Chartered Bank said in its recent macro-economic updates about the country.

See more

An overview of the VIFC's Executive Council meeting on September 7 (Photo: VNA)

Six groups of products, services proposed at Vietnam International Financial Centre

Deputy Minister of Finance Nguyen Thi Bich Ngoc said the products and services include investment funds and asset management, asset-backed digital assets, international carbon credits, commodity trading and derivatives infrastructure linked to trade and supply-chain financing, financial technology, and bonds issued at the centre. As these groups are at different stages of readiness, they will be rolled out in phases rather than simultaneously.

The meeting between the Quang Ninh delegation and Siemens Mobility (Photo published by VNA)

Quang Ninh seeks cooperation, investment opportunities in Germany

A Quang Ninh official praised the collaboration between Siemens Mobility and VinSpeed in developing the Hanoi–Quang Ninh high-speed railway and expressed his hope that the project will pave the way for future cooperation between Siemens Mobility and Quang Ninh in modern railway development and workforce training.

At the 10th intersessional meeting of UNCITRAL Working Group III in Ninh Binh province on September 7, 2026. (Photo: VNA)

Vietnam hosts UNCITRAL Working Group III intersessional meeting for first time

By hosting the 10th UNCITRAL Working Group III intersessional meeting, Vietnam wishes to continue playing an active and proactive role in UNCITRAL in general and Working Group III in particular, working alongside the international community to strengthen cooperation, share experience and contribute to the development of the international legal framework.

An Asian customer with a Vietnamese coconut product served with straws (Photo: VNA)

Vietnam’s agricultural exports: Shifting from volume to value

Vietnam has about 1.2 million hectares of fruit-growing areas, producing around 13 million tonnes a year. Its fruits are exported to more than 60 countries, including major markets such as the US, the EU, Japan, the Republic of Korea and China. The country is also among the world’s leading exporters of rice, cashew nuts, pepper and coffee, with its products reaching more than 150 countries, including markets with stringent standards.

A modern production line at Hana Micron Vina Co. Ltd., a wholly invested by the Republic of Korea, in Van Trung Industrial Park in Bac Ninh province (Photo: VNA)

Northern Vietnam attracts 80.5% of new manufacturing FDI in first half

John Campbell, Director and Head of Industrial Services at Savills Vietnam, said investment in electronics and semiconductors continued to concentrate in northern localities, which have developed relatively complete manufacturing ecosystems encompassing industrial infrastructure, technical labour and supplier networks.

At the 2025 K–Vietnam Pop-up Festa in Dalat (K-Market Vietnam 2025) held in the central province of Lam Dong on November 8, 2025. The event features a series of cultural and trade exchange activities between Vietnam and the RoK, with more than 100 Lam Dong and Korean enterprises showcasing typical products from both sides. (Photo: VNA)

Vietnam, RoK seek to expand trade cooperation

The Ministry of Industry and Trade’s Department of Foreign Markets said Korean companies showed strong interest in Vietnam International Sourcing (VIS 2026), covering food, logistics, digital technology, mechanics, shipbuilding, seafood and distribution.

According to the Vietnam Coffee Cocoa Association (Vicofa), Vietnam exported nearly 1.7 million tonnes of coffee in the first eight months of 2026, earning more than 6 billion USD. (Photo: VNA)

Vietnamese coffee exports poised for strong finish toward year-end

According to the Vietnam Coffee Cocoa Association (Vicofa), Vietnam exported nearly 1.7 million tonnes of coffee in the first eight months, earning more than 6 billion USD. Export volume rose by over 10% year on year, while export value fell by 11.2% due to lower export prices.

Ciputra is one of the landmark projects representing the presence of Indonesian investment in Vietnam since the first wave of FDI. (Photo: bietthu-ciputra.vn)

Foreign capital seeks stronger foothold in Vietnam through M&A

Foreign investors carried out 1,815 capital contribution and share purchase transactions in Vietnam in the first seven months of 2026, with total capital exceeding 6.5 billion USD. While the number of transactions fell 8.4% year-on-year, their value rose 61.6%.

At the Vietnam- Myanmar Business Forum in Hanoi on September 6 (Photo: VNA)

Myanmar President pledges to facilitate Vietnamese investment

Myanmar calls for Vietnam's cooperation in digital infrastructure development, cybersecurity, digital transformation, public services, information technology, and digital payment systems, as well as in fostering an innovation-driven business environment.

Using AI to search and process legal information (Photo: VNA)

Legal profession reshaped in age of artificial intelligence

In Ho Chi Minh City, digital transformation in the legal profession is not simply about introducing more technology into professional practice. It must also create ways of working that ensure technology serves people, while lawyers retain control and responsibility for the quality of legal services. This is particularly important in a metropolis with a large-scale economy and diverse legal needs.

Activities in Chan May Bay, part of the Chan May–Lang Co Economic Zone in Hue city. (Photo: VNA)

Hue steps up investment drive in Chan May–Lang Co Economic Zone

Covering more than 27,000ha, the Chan May–Lang Co Economic Zone is emerging as a key economic, urban, industrial and eco-tourism centre in southeastern Hue, with functional areas dedicated to seaports, industry, non-tariff activities, urban development and tourism.