economic targets set in national master plan

Economic targets set in National Master Plan

Under the National Master Plan for 2021-2030 with a vision to 2050, Vietnam strives to reach a GDP growth rate of approximately 7 percent per year during the 2021-30 period. By 2030, GDP per capita at current prices is expected to be around 7,500 USD.
headwinds weakening vietnams economic recovery

Headwinds weakening Vietnam’s economic recovery

Vietnam’s GDP growth was only 3.32 per cent in the first quarter compared to the same quarter of the previous year. Growth accelerated in the second quarter but only to 4.14 per cent – very far from the rapid pace of 7-8 per cent annually before 2020.
ftas to which vietnam is a signatory as of july 2023

FTAs to which Vietnam is a signatory, as of July 2023

The Vietnam - Israel Free Trade Agreement (VIFTA) was signed on July 25 and is the latest free trade agreement (FTA) Vietnam is a party to. Joining more FTAs will create significant opportunities for the country to deeply participate in global value chains, increase exports, boost GDP growth, and improve its institutions.
pressure to achieve gdp growth of 65 per cent

Pressure to achieve GDP growth of 6.5 per cent

Amidst the challenges in the US and EU markets, and a slower than expected recovery in China, Vietnam is facing more pressure to drive growth in the domestic market over the remainder of the year.
urgent actions needed to address investment barriers

Urgent actions needed to address investment barriers

Vietnam’s GDP growth accelerated in Q2 of 2023 compared with Q1, but the annual growth rate of under 4 per cent during the first half of 2023 was well below the official 6.5 per cent target. While disappointing, any growth in the current difficult environment could be viewed as a positive. Importantly, the macroeconomic foundations remain mostly stable with relatively low inflation.
setting a strong impression for socioeconomic advances

Setting a strong impression for socioeconomic advances

Although the target of 6.5 per cent GDP growth in 2023 is challenging, the disbursement of public investment could still help Vietnam get as close to that goal as possible. Deputy Minister of Planning and Investment Tran Quoc Phuong explained to VIR’s Nguyen Huong how the gradual improvement of disbursement will be a strong premise for economic growth for the rest of the year and into 2024.
stimulation essential to boost demand yet credit vigilance required

Stimulation essential to boost demand, yet credit vigilance required

Pham The Anh, a senior expert from the National Economics University, scrutinises the government's measures to stimulate economic growth, while discussing the threats to development in the face of low demand.
full year gdp growth projection of vietnam to 52 per cent uob

Full-year GDP growth projection of Vietnam to 5.2 per cent: UOB

United Overseas Bank (UOB) has just revised its full-year growth projection down to 5.2 per cent in view of the challenges ahead, particularly for the fourth quarter of 2023 with its high base (in value terms) a year earlier.
mpi highlights two gdp growth scenarios for h2

MPI highlights two GDP growth scenarios for H2

The Ministry of Planning and Investment (MPI) updated two scenarios in the second half of 2023 for Vietnam to strive for GDP growth of 6-6.5 per cent for the whole year, at the government's monthly meeting on July 4.
standard chartered forecasts growth slowdown in q2

Standard Chartered forecasts growth slowdown in Q2

In a recent global research report, Standard Chartered Bank forecasts Vietnam’s second quarter (Q2) GDP growth to have slowed to 1.5 per cent on-year, from 3.3 per cent in Q1. This poses downside risks to its 6.5 per cent growth forecast for 2023. However, a rebound is expected in the second half of 2023.
facilitating two way business between vietnam and italy

Facilitating two-way business between Vietnam and Italy

As a country, Italy, whose GDP growth has been rather stagnant for a while, breathes optimism and energy from Vietnam. Both countries place a strong emphasis on values such as family, traditions, beauty, and food, and both have a rich cultural heritage that is deeply ingrained in their societies. Additionally, Vietnam and Italy are similar in terms of their geographical size and administrative structure, which does provide a basis for more effective collaboration.
vietnams gdp growth slows in q1 ahead of expected recovery

Vietnam's GDP growth slows in Q1 ahead of expected recovery

Vietnam's Q1 GDP growth slowed to 3.3 per cent due to a number of factors, including weak exports. However, a recovery is anticipated as interest rates decline and the government implements measures to stimulate economic growth.
fostering industrial success through institutional growth

Fostering industrial success through institutional growth

If internal issues are resolved, Vietnam can reach its objective of increasing industry’s contribution to GDP to over 40 per cent by 2030.
oecd forecasts vietnams gdp growth at 65 per cent

OECD forecasts Vietnam's GDP growth at 6.5 per cent

The Organisation for Economic Cooperation and Development (OECD) expects Vietnam's economy to grow steadily, with GDP at 6.5 per cent in 2023 and 6.6 per cent in 2024.
2 per cent reduction in vat to boost aggregate demand

2 per cent reduction in VAT to boost aggregate demand

The 2 per cent reduction in VAT is hoped to affect aggregate demand significantly, effectively doping the economy amidst the current slowdown.