Update news vietnam economy
Vietnam’s real economic growth is expected to slow to 4.7% this year before recovering to 5.5 % in 2024 and 6.0 % in 2025, according to Vietnam’s Macro and Poverty Outlook released by the World Bank on October 2.
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders.
FTSE Russell, a global provider of benchmarks, analytics, and data solutions, has retained Vietnam on its watchlist as a frontier market, with a review scheduled for March next year.
The government should continue to support the expansion of domestic demand, which is gaining momentum for recovery, as a fiscal solution for spurring on economic growth, experts have suggested.
As many as 116,300 enterprises registered for establishment, up 3.1% year on year, with combined registered capital of 1,086.8 trillion VND, down 14.6% year on year, in the first nine months of 2023.
Vietnam’s trade surplus in September was estimated at 2.29 billion USD, bring the figure in the first nine months of the year to 21.68 billion USD, the General Statistics Office (GSO) announced on September 29.
Reputable organizations in the world predict that Vietnam's GDP growth in 2023 may be at the top compared to other ASEAN member states.
Despite the weak external environment, the Vietnamese economy remains resilient, and recovery is expected to pick up in the near term, said Asian Development Bank (ADB) Country Director for Vietnam Shantanu Chakraborty.
A country that cannot build a metro in its large cities will not be able to go far, Dr Vu Minh Khuong, a lecturer at Lee Kuan Yew School of Public Policy, Singapore, has said.
Monetary and fiscal policies applied since the beginning of the year aimed to increase the money supply to foster growth of the national economy.
The Ministry of Planning and Investment has outlined three potential economic growth trajectories for 2024, with the peak GDP growth rate forecast at 6.5 per cent.
Vietnam stands at a crossroads within the dynamic currents of global trends, with the potential to become a strategic link in the world's global supply chain if it adeptly seizes trends and recognises substantial opportunities on a global scale.
The shifting of production and diversification of supply chains underway in numerous countries has helped Vietnam to become a popular destination for foreign investors.
Over 30% of households in Vietnam are grappling with the consequences of soaring prices of goods and services, according to data released by the General Statistics Office (GSO).