Vietnam’s economic performance in the first 4 months
Vietnam’s total registered foreign investment reached nearly 9.27 billion USD in the first four months of the year, up 4.5% compared to the same period last year. The total import-export turnover of goods reached 238.88 billion USD, up 15.2%.
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Sustainable and green growth is emerging as an inexorable trend globally and been adopted by many countries, including Vietnam. This form of growth promotes the restructuring of the economy, fostering economic prosperity, environmental sustainability, and social equity.
In its April 2024 Asian Development Outlook (ADO) report, the Asian Development Bank (ADB) has maintained its earlier forecast for Vietnam’s economic growth this year, despite ongoing uncertainties from the external environment. Vietnam’s economy is expected to achieve a growth rate of 6.0% in 2024 and 6.2% in 2025.
Vietnam’s fishery industry has overcome numerous challenges over the past 65 years to record remarkable progress and become a vital economic sector, making significant contributions to the stabilisation and growth of the national socio-economic landscape.
Figures from the General Statistics Office show that Vietnam’s economy is experiencing a strong recovery during the first quarter of 2024. GDP growth is higher than in the first quarter in the 2020-2023 period, while tourism is booming and an impressive trade surplus has been posted.