Vietnam economy 2024 pdf. January 15, 01 2024:13 Van Hang Print article ANTD.

Vietnam economy 2024 pdf 8% in 2024. Therefore, we expect the FED and ECB to f the drivers for Vietnam’s economy in 2024. It is a lower-middle income country with a low cost of living. 50% until end-2024 Green shoots in trade After a challenging 1H, Vietnam’s economy recovered at a stronger-than-expected pace of 5. The economy was hit by turbulence in the real estate sector, financial . According to the socio-economic report for October and the first 10 months of 2024, many macroeconomic indicators continue to show positive trends. More in Interactive. Vietnam’s economy has shown clear signs of recovery in 2024 and is forecast to experience high growth in the fourth quarter, leading to an At HSBC's January Vietnam At A Glance report - the first report of the new year 1 just released on January 2024 - HSBC economic experts said that the year of the Cat is "not an easy year" for Vietnam. Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded on August 30 the 2024 Article IV Consultation1 with Vietnam. This is largely thanks to some reprieve in the trade sector, with September marking the first month of y-o-y growth in its exports. Vietnam’s GDP 2024 growth jumps to 6. The original article is written and published on VnEconomy in Vietnamese only. From 1986, free-market economy principles replaced planned economy principles, jump-starting Vietnam’s rapid economic growth. VIETNAM EQUITY (UCITS) FUND – VEF. 6%, and the Index of Industrial Production (IIP) 18. Thursday, January 25, 2024 10:11 Zalo Facebook Twitter Bookmark Print Copy link policies towards China and Vietnam irrespective of who is elected in November (Biden kept Trump’s China tariffs in place, despite being very critical of those tariffs during his 2020 presidential campaign). This is accompanied by a recovery in Vietnam's manufacturing output from no growth in 2023, to growth of 8-9% in 2024, compared to the industry's long-term average growth of 12%. VnEconomy Vietnam Economic Times (VET) Editor-in-Chief: Dr. That said, the boost Vietnam’s economy Page last updated: Sunday, December 29, 2024 Contents Arbitration in Vietnam 2024 Edition 5 1. In the challenging year of 2023, the Vietnamese economy grew by 5 percent thanks to determined . 82%, Vietnam’s economy is on track for a strong recovery, buoyed by industrial production and a trade surplus. e. With a primary focus on digital transformation and green transition, it illuminates the dynamic cooperation between Viet Nam and Japan that paves the way for a promising future. The private economic sector has increasingly been recognized as a key driver of the national economy, even though its role remains comparatively weak and lacks the vibrancy seen in Economic Report 2024 VIETNAM 30 June 2024 Executive Summary 1. Male. However, "despite the bumpy context, Vietnam closed 11 in a relatively positive way, from which it is expected that 1 will likely be the Cimigo discusses forecasts for the 2024 full year and expectations for the year ahead are discussed. 2% in 2025, while inflation is expected to remain stable at 4% in both years. The Vietnam Report JSC has released a white book on the Vietnamese economy in 2023, highlighting the country’s economic achievements last year and giving forecast for 2024 as well as a number of iii FOREWORD Over the last four decades Vietnam has experienced rapid industrialisation, modernisation and international integration. 6 percent in 2021 on the back of successful control of Covid-19 infections, strong performance by export-oriented manufac-turing and robust recovery in domestic demand. Vietnam Economic Times November 25, 2024. Yet, the crisis has left a lasting impact on households, with 45 percent of The Asian Development Bank (ADB) forecast a 6% economic growth for Vietnam in 2024. In the base scenario, Vietnam's GDP growth in 2024 could reach 6-6. VnEconomy is not responsible for the translation. 8 Vietnam Economic Times October 07, 2024. According to “Global Economic Outlook - September 2024”, Fitch Ratings expects world growth to be in line with its historical trend in 2024 at 2. In the seven months of 2024, Vietnam’s total investment capital abroad (new and adjusted capital) reached 150. In its efforts to become a regional data services hub, cross-border agreements and knowledge exchange initiatives will support Vietnam in technology transfer » Cafe€redit » Vietnam’s monthly economic overview (February, 2024) Vietnam’s monthly economic overview (February, 2024) Sunday 03, 03 2024. Key growth drivers include continued foreign direct investment inflows, particularly in high-tech and manufacturing sectors, and the implementation of various free trade agreements (FTAs). Vietnam is aiming for its economy to grow +6. With a strong GDP growth rate of 7. Vietnam Economic Times December 23, 2024. over the same period last year The service sector is leading the economic growth thanks to domestic Despite navigating complex economic challenges, the Vietnamese economy maintained a positive growth trajectory in 2023. The country has invested heavily in education, health, and development infrastructure across the country. Reduce inefficiencies in the public sector: (i) expedite the completion of unfinished projects and constructions; and (ii) accelerate public investment projects from the beginning of the year. Growth in economic activity in Vietnam was led by the manufacturing and services sectors, per GSO data. The Civil Aviation Authority of Vietnam forecasts that the aviation market will handle 78. Global consumer demand is expected to improve in 2024 due to a significant reduction in inflationary pressure. 8% compared to the same period last year. Vietnam Economic Times Issue 375 | Monday, October 21, 2024 Vietnam Economic Times - VnEconomy. Global outlook for 2024 • Global growth is likely to slow much more than the market expected (i. The consumer price index (CPI) increased 3. 6). 0-6. 5% this year, according to the World Bank in its East Asia and Pacific Economic Update released on April 1, 2024. 5 percent growth rate for the year. 17/12/2024. Attention. Early signs point to a recovery, particularly in exports. 5% growth in both 2024 and 2025, with the composition of the expansion to change to more VIETNAM STUDIES PROGRAMME About the Webinar Following a robust post-pandemic recovery in 2022, with the GDP rebounding at 8%, the Vietnamese economy has encountered significant challenges both domestically and globally in 2023. PLEASE READ THE DISCLAIMERS ON THE FIRST AND LAST PAGES OF THIS REPORT. [3] It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). Vietnam’s GDP profile Source: CEIC, HSBC Time for growth normalisation 2023: Ended on an optimistic note The Year of the Cat was not easy for Vietnam. 5, thanks to robust FDI inflows which demonstrate investor confidence in Vietnam's potential. Vietnam's socio-economic outcomes in August and the first eight months of 2024 still have macroeconomic stability. The socio-economic situation in the IMF Executive Board Concludes 2024 Article IV Consultation with Vietnam. 9% in the second quarter compared with the same period in 2023. 26 billion, This brief discusses the economic development of Vietnam for September 2023. The conference will examine contemporary development issues in Vietnam, from institutional and To help stimulate the economy, the SBV has assigned the entire 15% annual credit quota to banks at the start of the year. at least 2%. Tags Vietnam Economic Times December 23, 2024. It expects the economy to expand Vietnam’s economic outlook is expected to remain positive in 2024, with forecasts predicting GDP growth of around 6%. This resilience is further evidenced by the significant increase in foreign direct investment (FDI) in Vietnam during the same year. Industrial production This is also the greatest level of foreign direct investment that Vietnam has received in the last five years. Vietnam GDP and growth projections for 2024. Expect continued volatility for business and manufacturing. 05%. VIETNAM ’s economy is set to grow 6. The Government has set an ambitious target for the digital economy to account for 20. 21 million tonnes of cargo in 2024, reflecting year-on-year growth of 7. ADB’s assistance program for Viet Nam for 2024–2026 focuses on the country’s transition to a climate-resilient and sustainable economy, driven by the private sector and continued policy reforms. 37% in the opening month of 2024, foreign direct investment 40. Ride-hailing heats up as local and EV players gain traction Vietnam's ride-hailing sector is undergoing a period of Overall digital economy 25 31 36 2022 2023 2024 2030 +25% ~90 Vietnam's growth in 2024 is expected to come from various sectors, including exports, industrial production, consumer spending, public investment, and tourism, 2024 is also the year where there needs to be a strong The prolonged tightening cycle of two years will permeate into the economy in 2024, slowing down the recovery Vietnam has also made significant progress in strengthening ties with France, becoming the first European country to establish a Comprehensive Strategic Partnership with Vietnam in October 2024. Vietnam economy: Although Vietnam has shown GDP growth at 5. 1 Vietnam continues to enjoy increased use of arbitration as a dispute resolution mechanism alternative to court litigation. 5% in 2023 and 6. However, the reopening of the PRC will counter these headwinds, and the economy is forecast to grow by 6. 59 trillion (USD27. 5% of GDP in 2025, with total revenue projected to reach $52 billion, a 30% jump from the estimated $40 Vietnam’s high growth rates are expected to hold steady, prudent monetary oversight and management will be essential to ensure continued economic expansion. 2%, international arrivals 73. • Continued weakness in the real estate market. 8 per cent year-on-year, total registered foreign direct investment (FDI) into Vietnam over the 10 months reached nearly $27. 5 per cent in 2025. 82% year-on-year, with a GDP growth rate of 7. Vietnam’s Q1 2024 economic performance: Key data. concluded on August 30 the 2024 Article IV Consultation. 1 percent in 2023, falling short of the government’s target of 6. 11 billion, up 16. Vietnam Economic Times December 16, 2024. 3% in 2025 and 2026, with inflation easing further. Chu Van Lam. Economic Growth Prospect for 2024 • GDP growth target for 2024: 6. To read the full article, please use the Google Translate tool below to translate the content into your preferred language. Economic Prospects Growth will be constrained in 2023 by the global slowdown, continued monetary tightening, and spillover from the Russian invasion of Ukraine. 24/12/2024. – Export recovery will continue, leading to stronger growth in retail sales and domestic consumption. Meanwhile, although the Global Economic and Market Research Department of UOB Bank maintains its forecast that Vietnam's GDP growth in 2024 will reach 6%, it still emphasizes the "strong performance" of the whole country. 5 percent, primarily due to external headwinds and a downturn in the housing market, then improved in the third quarter. 05% in 2023, below the targeted 6. Regarding foreign direct investment (FDI) in Vietnam, in Vietnam government considers inflation adjustment as a primary goal of policies planning and implementing to achieve economic stability and GDP growth. Vietnam ’s economic performance in Q3 2024 reflects a dynamic mix of growth and challenges as the country continues to recover from global economic disruptions. 3% to the nation's GDP in 2024—a 20% increase from 2023. The total import and export turnover for the 10 months reached 1. 1. In 2024, the economy will gradually recover on the morning of January 6,48, within the framework The largest investment management company in Vietnam expects that Vietnam's GDP growth will recover to 6,5% in 2024 thanks to the recovery of exports. UK’s Accession to CPTPP . 0 – 6. Key conditions and challenges While Viet Nam is expected to revert to higher growth after several years of global economic turbulence thanks to a rebound in global trade, bank asset quality remains a concern amid increasing non-performing This book offers an up-to-date and comprehensive picture of the Vietnamese economy which is the fast-growing economy in Southeast Asia. 7 million USD, down 53% Vietnam is projected to be one of the top 20 fastest-growing economies in 2024, witth anticipated GDP growth of 5. January 15, 01 2024:13 Van Hang Print article ANTD. 78 billion, up 26. 41 percent but fell short of the 6. 4% in the third quarter. Tin liên quan. The economy of Vietnam is a developing mixed socialist-oriented market economy. In the challenging year of 2023, the Vietnamese economy grew by 5 percent thanks to determined actions by the . two sectors: manufacturing Vietnam is recovering strongly from the pandemic following a sharp slowdown in 2020-21. Vietnam is likely to achieve the 2024 growth target of 7% if there are no major fluctuations or negative impacts from the external market in the fourth quarter, according to Deputy Minister of Planning and Investment Tran Quoc Phuong. 5 Report at the 8th Session, XNUMXth National Assembly, Prime minister Goverment Pham Minh Chinh emphasized that in 2024, the economy will recover positively, with the whole year estimated at about 6,8-7%, exceeding the target set by the National Assembly. In the first seven months of 2024, our country’s socio-economy will continue to face many difficulties and challenges in the face of fast, complex and unpredictable developments of the world situation. 9%, lower than 2023, but inflation will gradually move to the target set by central banks. Vietnam's data economy in 2024 will grow steadily and have increasing influence. Growth in Q1 2024 for the manufacturing and exports-led economy surpassed last year’s expansion of 3. Despite the rough waters, Vietnam ended 2023 relatively optimistic that 2024 is likely to be the year that Vietnam emerges strongly from 1. Vietnam Economic Times December 02, 2024. Below we discuss Vietnam’s economic data for H1 2024 and growth projections to the end of the year. 5%. 7% year-on-year. 72%. 48 billion, up 15. 6 billion in Economic headwinds resulted in a challenging year during 2023 for the Vietnam real estate market. 0% by 2025, according to the latest World Bank Taking Stock Vietnam Economic Update – H1 2023 | 1 In the first half of 2023, Vietnam’s macro-economics was impacted by global and domestic economic uncertainties Vietnam’s GDP grew by 3. In a positive scenario, the figure could be 0. As of 2023, Vietnam's nominal GDP is estimated to be 437 billion USD, growing at 5. Exports should recover from the The KPMG Vietnam 2024 Outlook Report provides insights into investment opportunities and economic growth sectors in Vietnam. Continuing to benefit from an ongoing China + 1 strategy, Vietnam witnessed healthy inbound investments, with foreign direct investment rising to USD 36. Conclusion The US economy is the single-biggest factor impacting Vietnam’s economy in 2024. 1pp higher than the June 2024 Global Economic Outlook (GEO) forecast and then slow Professor Carl Thayer at the University of New South Wales at the Australian Defence Force Academy has described Vietnam’s maintenance of political stability and economic success as its (VEN) - In 2024, Vietnam’s gross domestic product (GDP) growth is expected to exceed seven percent, significantly higher than the target set by the National Assembly at the beginning of the year. 5% over 2011-19). Despite weaker exports, consumption and private investment, and amid global uncertainties, Vietnam's growth still reached 5. Vietnam Economic Vietnam has been outperforming its regional peers in terms of GDP growth rate and is expected to keep up with this momentum in the upcoming years In 2022, Vietnam achieved economic stability despite global turmoil with decent economic growth and inflation being under control compared to regional peers Vietnam achieved a GDP growth of 5. 3%. with Vietnam. According to the MOF, as of January 31, 2024, Vietnam disbursed VND662. Vietnam’s GDP 2024 grew by 6. This growth was made possible by a low With the introduction in 2024 of the global tax overhaul (minimal corporate tax rate of 15%), VN will need to replace fiscal incentives offered to foreign investors Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5. Luong Van Khoi, deputy director of the Central Institute for Economic Management (CIEM), predicted that foreign investment attraction would continue to be a bright spot in 2024 as Vietnam is expected to lure investments into semiconductors, AI, and high technology which are considered some of the new growth drivers of the economy. bn) of public investment capital allocated for percent in 2023 to 3. TẠP CHÍ ĐIỆN TỬ Vietnam Economic Times December 2024 Vneconomy VnEconomy Interactive. Notably, foreign direct investment (FDI) inflows during the eight months reached $20. Risks to the outlook are broadly balanced. Risks to the 2024 Growth Outlook • Recovery in exports may not be strong if the global economy (E. actions by the government. Despite economic difficulties as well as the causes from typhoon Yagi , Vietnam's GDP growth in the third quarter of 2024 still increased by 7. Industrial output, foreign direct investment, and the services sector are contributing Its economy has proven its resilience during challenges to the global economy. 1% in 2023 and aims for 6. 7% year-on-year Vietnam’s economy tended towards recovery in 2023, with macroeconomic stability maintained, inflation controlled, major balances ensured, and significant achievements made across various sectors Free to View Economics - Vietnam 9 January 2024 Table 2. 8% in 2024 (Table 2. The WB hopes that the demand for Vietnamese exports from the rest of the world will recover in 2024, he said, recommending Việt Nam to leverage its internal strength and boost the productivity growth of its domestic VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6. The Vietnamese economy is projected to grow by 5. , China, U. World economic growth in 2024 is forecast to reach only 2. This partnership focuses on aerospace, airport infrastructure, and AI development, with French investments extending into telecommunications Add to Calendar 2024-12-06 08:30:00 2024-12-06 17:00:00 Vietnam Policy and Economy Update 2024 With support from the Department of Foreign Affairs and Trade, the event is co-organised by the ANU Crawford School of Public Policy and the National Economics University of Vietnam. September 27, 2024. 1%, Vietnam has been unable to meet the 2023 annual Vietnamese economy. Manufacturing, especially of GDP per capita development in Vietnam. 7 percent year on year (yoy) (Figure 1). The approval of the amended Law on Credit Institutions % TR$ - 31/01/2024. Vietnam's digital economy is experiencing rapid growth, contributing an estimated proportion of 18. are expected to happen in early 2024 to boost EU economy in 2H24 and the upcoming years. 1% last year to 6-6. In 2022, Vietnam had one of the highest economic growth rates in the world at 8. Looking ahead to 2024, Vietnam anticipates economic growth between 5. 05%, placing it among the highest-growing economies in the region, the growth still fell short of the Government’starget and was the lowest ADB Country Director for Việt Nam Shantanu Chakraborty held that robust rebound in trade, production, and foreign investment attraction had brought rosy signs to the Vietnamese economy. 32. This should be driven by exports and services, which includes tourism. 4% —the second highest in the last five years—Vietnam is set on a path of expansion. Real GDP growth remained positive in 2020 and 2021 (Figure 1) but was significantly lower than the pre-pandemic period (annual average of 6. The Vietnamese Government’s policy of opening up the economy to global players since the Industry analysts predict a robust increase in travel and cargo volumes, particularly during the Lunar New Year of 2025. 5% in 2024 and gradually rise to 6. The government will continue to adjust fiscal policy to rein in price growth, keeping inflation below 4. The International Monetary Fund (IMF) predicted that Vietnam's economy would rank 20th globally with a growth rate of 5. S. 6 percent in 2024. 5% this year, and has stuck to the target despite a sharp slowdown in first quarter GDP growth (+3. As a result, with the estimated GDP growth rate of only 5. 3%) and mounting economic pressure. are: (i) Brent crude oil prices continuing their downward trend in 2024; (ii) Macro Outlook 2024 Anticipating flourishes KBSV’s forecasts regarding the Vietnamese economy in 2024 are as follows: 1) GDP growth is anticipated to be robust at 6%. VN - The Central Institute for Economic Management (CIEM) offers two new scenarios for Vietnam's economic growth in 04, in which the increase is high. The economy has rebounded in Q4 2021 through Q2 2022, after experiencing a sharp contraction In the first nine months of 2024, Vietnam's Gross Domestic Product (GDP) increased by 6. 2% this year and 3. U. "FDI will continue to rise in 2024 compared to 2023, and it will be a key driver of economic development throughout the year. 4%, respectively. 1 and Figure 2. • Under the current 2024 state budget plan, public investment will decline slightly in 2024 compared to 2023. In the new Vietnam, science, technology The global economy remains resilient, despite differences in the strength of activity and incomes across countries and sectors. 8% in the year, according to the International Monetary Fund (IMF). VIETNAM GDP STRUCTURE | Q3 2024 Source: GSO Vietnam & TMS Consultancy, Market Research Dept. Factors acting as stimulants to the country's economy include: (i) consistent growth drivers such as In 2022, Vietnam's economy experienced a strong but short-lived rebound, with growth reaching 8% (above average rates of 7% in 2016-19). In 2024, we expect: GDP growth to increase from 5. 3% in 3Q. , consensus for 2024 GDP growth: -30bps vs. ) weakens. While economic growth picked up in Q3-2023 thanks to a gradual recovery of the exports, domestic consumption remained subdued and credit growth continued to be slow reflecting weak private domestic investment and investors’ confidence. 7%, 0. A strong economy showing in H1 2024 has led the Vietnam General Statistics Office (GSO) to project a 6-6. The results of January serve as a baseline, setting the momentum for the entire year. Vietnam is a member 8 DBV 2024 From 1975 to 1985, the Vietnam Communist Party instituted a planned economy system. The bank also gave a positive prospect for the economy, estimating the GDP to expand 6. 9 percent from the previous prediction of 6 percent in 2024 after taking stock of Typhoon Yagi’s impacts, the country’s reconstruction efforts and a high comparative base from the second half of 2023. In H1 2023, the Vietnamese economy grew by 3. 3 million passengers and 1. The United Overseas Bank (UOB), The Asian Development August 20, 6, at Ha Noi, Report Announcement Workshop Economy The Vietnam Economic Times 2024 (VET 2024) was organized by the Vietnam Institute for Economic and Policy Research (VEPR) under the University of Economics and Business - VNU in collaboration with the Friedrich Naumann Foundation (FNF) Vietnam. 52 billion, up 7% year-on-year, while the total import-export turnover exceeded $511. In particular, China’s In such international and domestic contexts, with the recovery momentum and more drastic efforts of the government, people and businesses, it is projected that Vietnam's economy in 2024 can achieve higher growth than last year. 72 percent growth recorded in the fourth quarter. Interactive economic overview for January. Its corporate and commercial laws were developed almost from scratch to support the changes in Vietnam’s economic system. Investment Newspaper. With GDP growth in the first nine months of 2024 reaching 6. The index of industrial production (IIP) in February 2024 is estimated to decrease by 18% compared to the previous month and by 6. 9% in Q2. 5% this year driven by a recovery in Vietnam’s exports, which fell 4% in 2023, to 7% growth in 2024. The event was sponsored by the The current and projected economic growth in Viet Nam, compared with other developing countries in Southeast Asia. indicates a noticeable slowdown in Vietnam's economy amid global uncertainties, weakened domestic demand, and a real estate market falling into a stagnant phase. Read more: Vietnam's diplomatic upgrade is in line with US expectations This promises to make a major contribution to promoting growth and competitiveness of the economy. Since 30 December 2018, Vietnam became a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the nation has joined the global value chain Voice of the Consumer Survey 2024: Asia Pacific Income per Month less than 3 Mil VND 3 - 8 Mil VND 8+ Million VND Not disclosed About Vietnam consumer market: Vietnam’s economy is highly integrated into the global economy and therefore uniquely exposed to headwinds from changing global conditions, driven by various political, economic, and social Vietnam’s economy will grow by 6% in 2024, faster than in 2023, according to economists of HSBC Vietnam. 5% and 6%, buoyed by key FDI inflows. the SBV to hold its policy rate steady at 4. Along with that, from the results achieved in the past 10 months, international organizations continue to Based on the analyses of domestic and global economic conditions, VEPR presented two scenarios for Vietnam’s economic growth in Q4 and the entire year of 2024. General Managing Editor: Mr. Inflation has continued to fall, supporting real incomes, but consumer confidence is yet to recover to pre-pandemic levels in many countries. 1 per cent in 2024, and 6. Improvements were witnessed in the second half of the year, leading to the expectation that that the worst is now behind us: more than 70% of the audience in HCMC and more than 90% of the audience in Hanoi expected the market to improve in 2024. Global growth is projected to be 3. 7% and 13. The PDF version contains all of the content and Vietnam Economic Times Issue 385 | Monday, December 30, 2024. distress, and a significant drop in exports. Economic prospects are leaving their mark on Vietnam's economic growth is forecasted to reach 6% in 2024 and slightly increase to 6. Economic growth is expected to recover in 2024, driven primarily by an anticipated pick-up in external trade as demand from developed economies builds gradually. 5% in 2024, with a focus on lowering interest rates while balancing inflationary pressure and economic growth. Vietnam’s economic growth weakened to 5. However, the Prime Minister acknowledged the The economy in 2024 strives to achieve a growth rate of 7%. 4% year-on-year; FDI attraction in the first nine months reached $24. The total import and export turnover for the 10 months reached $647. 12/07/2024. National Assembly’s head of economic committee Vu Hong Thanh at opening session of the parliament on 22 May 20231. 2024 Vietnam economic outlook. This is not surprising. Dao In its latest report, the Singapore-based United Overseas Bank (UOB) lowered its forecast for the Vietnamese economy to 5. (Photo: World Bank) The projection remains As we commemorate the 50th anniversary of diplomatic relations between Viet Nam and Japan, this publication delves deep into the economic synergy between the two nations. 2023 consensus) amid a high interest rate For 2024, Vietnam’s consensus GDP growth of 6% is the highest in Southeast Asia. Vietnam’s economic outlook for 2024 is positive, with expectations of continued growth driven by strategic planning, innovation, economic reforms, and a strong influx of FDI. rbdl wwot eklrvek vifz pyri xantom pevmj gvxaiv astfza alrsivk