UOB maintains Viet Nam’s growth forecast at 6% this year

Viet Nam's manufacturing and services sectors continued to drive most business activities, while foreign trade remained robust in the second quarter, according to UOB's report Global Economics & Market Research Unit.

The increase in semiconductor sales since mid-2023 indicates that this momentum may persist for another 1-2 quarters.

Notably, the analysts said most foreign investors have a positive long-term outlook for Viet Nam. This is evidenced by the 13.1 percent year-on-year increase to US$15.2 billion in registered foreign direct investment (FDI) in the first six months.

Viet Nam's GDP expanded by 6.42 per cent year-on-year in the first half of this year, the General Statistics Office (GSO) reported.

In comparison with the figures recorded in the same period during the 2020-2024 period, the above growth pace is only lower than the first half of 2022.

Viet Nam's GDP growth accelerated to 6.93 percent in the second quarter from 5.66 percent in the previous quarter.

The Government targets to boost GDP growth to 6-6.5 percent in 2024 from 5.05 percent in 2023./.