Vietnam ranked first in tourism recovery in Southeast Asia in 2024, reaching 98% of the pre-COVID level, surpassing Malaysia (94%), Thailand (88%), Singapore (86%), Indonesia (86%), and the Philippines (72%).
Amid global economic challenges, Malaysia's economy maintained robust recovery throughout 2024, providing momentum for continued growth in 2025.
Vietnam has regained its position as the “growth star” of the Association of Southeast Asian Nations (ASEAN), said the Hong Kong-Shanghai Banking Corporation (HSBC) when evaluating Vietnam’s economic development in 2024.
The real estate market in Ho Chi Minh City has witnessed positive changes over the past nine months.
Vietnam’s economy has recovered quickly despite external uncertainties and extensive damage caused by Typhoon Yagi, which has greatly affected all socio-economic activities and people’s lives.
Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam to 6.4% this year from the previous projection of 5.9%.
Local authorities and businesses of Cat Ba island and Do Son district, the two popular tourist destinations in the northern city of Hai Phong, have joined hands in overcoming typhoon Yagi's impacts to resume tourism activities.
In the heavily affected village of Làng Nủ in Phuc Khanh commune, Bao Yen district, Lao Cai province, the priority, alongside ongoing search and rescue efforts, is to swiftly rebuild and help locals resettle after the floods. Bao Yen district is actively working on establishing a resettlement area for the affected community.
Thailand's Commerce Ministry has joined hands with government agencies to launch a nationwide economic recovery project over a period of three months which is expected to reduce the cost of living by up to 7 billion THB (198 million USD).
As of June 30, credit expanded 6% compared to the end of 2023 while total outstanding loans approximated 14.4 quadrillion VND (563.3 billion USD), a positive signal showing this year's credit growth target of 14 - 15% is within reach, experts said.
While Vietnam’s textile and garment industry is recovering, it is facing new challenges such as customers preferring small, rapid orders and labour shortages, experts have said.
With the world market’s recovery and increased export orders, import and export activities in the first five months of 2024 continued to thrive and saw considerable outcomes.
Roadblocks related to credit accessibility, legal procedures, and demand-supply factor must be removed to bolster the recovery of the real estate market, experts said at a forum held in Ho Chi Minh City on May 29.
Vietnam's industrial production has shown signs of recovery and positive growth despite ongoing challenges, the Ministry of Industry and Trade has assessed.
