Standard Chartered raises Viet Nam’s growth forecast for 2025

The bank also revises its inflation forecasts slightly to 3.4 percent for 2025 and 3.7 percent for 2026, reflecting stronger-than-expected growth momentum and easing price pressures.

Viet Nam continues to strengthen its role in the global supply chain, supported by robust trade performance and deeper integration into global trade through multiple free trade agreements (FTAs).

Total export value reached US$42.7 billion in September 2025, up 24.7 percent year-on-year, driven by strong growth in key sectors such as electronics and computers (up 66.2 percent), telephones (up 17.5 percent), and machinery (up 11.6 percent).

Imports also rose by 24.9 percent to US$39.8 billion, led by electronics and computer supplies (up 43.6 percent) and machinery (up 33.6 percent), signaling continued expansion in production and industrial capacity.

Domestic credit growth has also accelerated, signaling continued economic recovery even without policy rate cuts. Credit growth is now above 15 percent year-on-year, reflecting improving business confidence and rising finance demand. Lending growth remains robust, supported by favorable liquidity conditions and government measures to stimulate growth.

Foreign direct investment (FDI) continues to be a key growth driver. Disbursed FDI rose 8.5 percent year-on-year (US$18.8 billion) in the first nine months of 2025, while pledged FDI rose 15.2 percent year-on-year (US$28.5 billion).

Tim Leelahaphan, Senior Economist for Viet Nam and Thailand, Standard Chartered Bank said, Viet Nam's resilience and adaptability are evidenced by its successful attraction of strong FDI and robust export growth, solidifying its strategic role in global supply chain diversification and pointing to strong prospects for continued economic expansion.

 Earlier, HSBC revised up its 2025 gross domestic product growth forecast for Viet Nam to 7.9 percent, from its previous projection of 6.6 percent./.