As Vietnam enters its 37th year of attracting foreign direct investment (FDI), the country is on the cusp of a significant new phase.

Vietnam could reach the GDP growth target of 6-6.5% set by the National Assembly on the back of strong investment, export, and consumption, according to experts.

Vietnam has a market economy, if the pace of reforms it has undertaken from the Doi Moi (Renewal) period in 1986 to now is taken into consideration, Senior Lecturer in Economics at Australia’s Deakin University Dr. Cong Pham has assessed.

The six leading economies in Southeast Asia, including Vietnam, the Philippines, Indonesia, Malaysia, Thailand, and Singapore, are projected to grow at an average annual rate of 5.1% over the next decade.

Implementing the renewal process, Vietnam has transitioned from a centrally planned economy to a market one, while actively and comprehensively integrating into the international community and promoting industrialisation and modernisation.

Vietnam’s industrial production is seeing positive signs for recovery as the consumption index of the entire processing and manufacturing sector increased and the inventory index reduced in the first half of this year.

Vietnam has a prime opportunity to lead in attracting technological "eagles."

The decision on Vietnam’s market economy status, a move that could boost the country’s exports, is now expected to be announced on August 2.

HSBC has raised its forecast for Vietnam's GDP growth this year to 6.5%, as compared with the previous projection of 6%, following the country's better-than-expected performance in the first half.

Previously, it took 23-24 weeks to follow all administrative procedures for one investment project, but now it takes 3-4 times longer.

The Vietnamese Government has outlined a comprehensive action plan to continue fasttracking the country's industrialisation and modernisation by 2030, with a long-term vision extending to 2045.

Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4% in the first half of this year.

As many as 40.7% of the enterprises expect their business performance in the third quarter of 2024 to be better than the second quarter, according to a quarterly business trend survey recently released by the General Statistics Office (GSO).

Vietnam saw excellent achievements in socio-economic development in the first six months of the year. However, now is not the time to be complacent, according to the Ministry of Planning and Investment (MPI).

The Asian Development Bank has slightly raised the 2024 growth forecast for developing Asia of 46 countries, including Vietnam, thanks to stronger domestic demand and export growth.

Vietnamese companies have been upbeat about the current business environment, according to the Business Outlook Study 2024 (SMEs & Large Enterprises) conducted by Singapore-based United Overseas Bank (UOB).

The impressive growth in the Gross Regional Domestic Product (GRDP) of many localities, with some witnessing increases of over 14%, has contributed to the country’s 6.42-percent GDP expansion in the first half of 2024.

The good performance of the national economy in the second quarter has dispelled concerns of securities investors, who are optimistic about the stock market in July and the second half of 2024.

Experts believe that if former US President Donald Trump returns to the White House, he will continue his policy in his first term to settle the US trade deficit, which may impact Vietnam.

Vietnam's economic growth rate surpasses several countries in the region, with a per capita GDP exceeding $4,300. Has Vietnam entered the high middle-income group?