UOB upgrades Viet Nam’s 2026 GDP growth forecast to 8.5%

The result was well above its earlier projections (7 percent) despite the overhang of geopolitical risks in the Middle East and elevated energy prices.

It noted that the outcome reflected broad-based momentum across industry, construction, services, and agriculture, helping Viet Nam retain its position as ASEAN's fastest-growing economy.

Viet Nam's GDP growth expanded 8.39 percent year-on-year in the second quarter of 2026, from 7.94 percent in the first quarter, lifting the first half's figure to 8.18 percent.

Manufacturing remained the economy's main growth engine. The industrial and construction sector expanded 10.51 percent year-on-year in the second quarter while manufacturing grew 11.4 percent.

FDI remained another bright spot despite geopolitical headwinds. Disbursed FDI reached about US$13 billion in the first six months, up 11.2 percent compared to the same period last year, while newly registered FDI climbed 61 percent to US$34.7 billion.

The figures highlighted Viet Nam's continued attractiveness as the ongoing diversification of global supply chains continues to benefit the country, noted the bank.

The robust volume of newly registered FDI also provides a solid foundation for stronger disbursements in the remaining months of the year, potentially making 2026 one of the country's strongest years for attracting foreign inflows, it stressed.

The bank said some of the Government's earlier efforts to bring prices under control, including freezing taxes on gasoline and promoting wider adoption of electric vehicles and use of biofuels, helped ease inflationary pressures./.