Vietnam's economy is resilient in the face of the "vortex" of geopolitical instability in the world, but it still needs to maintain growth momentum to keep up with the global economy, according to experts.

A raft of businesses spanning a range of sectors have reached their full-year profit targets ahead of time, despite the economic headwinds.

Many prestigious international organizations such as VinaCapital and the International Monetary Fund (IMF) have forecast that Vietnamese GDP will continue seeing strong growth in 2024, rising to be among the 20 highest growing economies globally.

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.

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.

The Politburo’s Resolution 41 on building and promoting the role of Vietnamese businesses in the new era, issued October 10, 2023, shows timely directions and orientations for the development of businesses.

Equity investors and management authorities have great expectations for the National Assembly’s upcoming discussion, which should give the nod to policies for pilot implementation pertaining to funding Vietnam’s road system.

Discussing socio-economic conditions in 2023 at the ongoing National Assembly session, State President Vo Van Thuong said there are many policies which people have put high hopes on, but implementation has been very slow.

With a young population, a strong ability for digital transformation among consumers, and increasing digital consumption, Vietnam is anticipated to achieve digital economic growth of US$45 billion by 2025

Vietnam's socio-economic situation in October and the ten months of this year showed signs of recovery, with numerous bright spots, Minister and Chairman of the Government Office Tran Van Son told a press conference in Hanoi on November 4.

As of October 31, the disbursement of public investment was estimated at over 401.86 trillion VND (16.37 billion USD), completing 52.1% of the set plan and 56.84% of the target assigned by the Prime Minister, the Ministry of Finance reported.

The Asia Times has published an article assessing the Vietnamese economy, outlining how it has uniquely positioned itself to be among the fastest-growing economies over the coming decade.

Economic indicators and management issues will be discussed at the ongoing National Assembly session to find solutions to growth and development.

2023 has been a tough year for many companies reporting business result declines. Even bluechips have seen prices sliding though the market is believed to have bottomed out.

Vietnam’s economy is bearing pressure from the appreciation of the US dollar. Its effort to slash interest rates to boost growth faces hurdles as the US economy has become stronger.

Vietnam’s Manufacturing Purchasing Managers' Index (PMI) dropped slightly in October, posting 49.6 amid muted new order growth, according to the latest figures reportedly released by S&P Global on November 1.

Vietnam has uniquely positioned itself to be among the fastest-growing economies in the coming decade, according to an article published recently on Australia-based website eastasiaforum.org.

With economic growth this year forecast to fall below the set target, the government has devised a new growth goal for next year, which will be realised by greater support for businesses.

Vietnam’s gross domestic product (GDP) growth has been the highest in Southeast Asia over the last decade, according to US-based website seekingalpha.com.

After the first two sluggish quarters of the year, Vietnam’s businesses have seen the light at the end of the tunnel.