"We expect positive momentum from domestic drivers such as production, consumer spending and visitor arrivals to contribute to the activities, especially in the first half," the bank said in its latest report.
Việt Nam will be the standout among the top six ASEAN economies (ASEAN-6), growing at a faster pace relative to its peers during the next few years, according to the Oxford Economics, a global economic advisory firm.
With 2024 nearing its end, Việt Nam''s GDP growth is set to surpass the 7 per cent target, driven by efforts from ministries and sectors, says Deputy Minister of Planning and Investment Trần Quốc Phương.
In its Asia Development Outlook report, the Asian Development Bank (ADB) raised the growth rate forecast of Việt Nam to 6.4 per cent in 2024 and 6.6 per cent in 2025.
The Ministry of Information and Communications estimates that the digital economy accounted for 16.5 per cent of Việt Nam''s GDP in 2023, with projections for 2024 rising to 18.6 per cent.
The Việt Nam Institute for Economic and Policy Research (VEPR) expects GDP growth in the fourth quarter of 2024 to reach 7.4 per cent, thereby reaching the 7 per cent target set by the Government.
With positive results seen in the first half of this year, Việt Nam hopes foreign direct investment (FDI) inflow in 2024 to hit US$40 billion in the whole year.
Recent forecasts are optimistic about the Vietnamese economy in 2024, with the gross domestic product (GDP) growth rate poised to reach around 7 per cent for the full year, higher than the National Assembly’s target set at 6.5 per cent.
In its recent macro-economic s about Việt Nam, Standard Chartered Bank forecasts the Việt Nam’s Q2 GDP growth at moderate to a still-strong 5.3 per cent year-on-year (from 5.7 per cent in Q1).
Việt Nam’s 2024 economic growth target of 6.5 per cent is challenging, with weak consumption demand and exchange rate risks, so signals a pressing need for hastening energy transition towards a green economy