UOB upgrades Viet Nam’s growth forecast to 7% in 2025
VGP - Singaporean United Overseas Bank (UOB) has revised its forecast for Viet Nam’s 2025 GDP growth to 7 percent from its previous projection of 6.6 percent.
The latest prediction took into account the strong momentum from 2024 as well as risks from the new U.S. administration with further trade frictions.
According to UBO experts, the National Assembly set a growth target of 6.5-7 percent for 2025 but Prime Minister Pham Minh Chinh revealed an growth plan of at least 8 percent.
The bank commented that the 8 percent goal seems ambitious but there are still feasible merits.
UBO said that uncertainty on trade outlook will be a major risk for Viet Nam in the second half with its rising dependence on exports, which have grown to record high of more than US$400 billion in 2024.
Earlier, UOB anticipated an expansion pace of 6.6 percent for Viet Nam’s economy in 2025 in its report released on December 2, 2024.
The Asian Development Bank (ADB) projected Viet Nam's GDP growth can reach 6.6 percent this year while the International Monetary Fund (IMF) expected Viet Nam's GDP to reach US$506 billion in 2025, becoming the 33rd largest economy globally and expand by 6.1 percent in 2025.
Similarly, WB also upgraded its GDP growth forecast for Viet Nam to 6.5 percent in 2025./.
