Vietnamese economy bounces back positively: Lawmakers
VGP - The Vietnamese economy has rebounded positively and is forecast to outstrip the 6-6.5 percent growth goal, noted lawmakers while scrutinizing the Government's report on socio-economic performance in 2024.
During its eighth session, the 15th National Assembly focuses on reviewing the nation's economic and social development for 2024, setting forth strategies for 2025
The Vietnamese economy has sustained growth momentum so far this year, expanding 7.4 percent in the third quarter compared to 6.93 percent and 5.66 percent in the previous two quarters, according to the General Statistics Office (GSO).
The S&P Global reported Viet Nam Manufacturing Purchasing Managers' Index posted 51.2 points in October, up from 47.3 points in September despite heavy consequences caused by Typhoon Yagi.
The Asian Development Bank (ADB) forecast that Viet Nam's economic growth can reach 6 percent in 2024 and 6.2 percent in 2025, following a 6.4 percent expansion in the first half of this year.
The World Bank (WB) predicted that the Vietnamese economy would grow 6.1 percent in 2024 and 6.5 percent in both 2025 and 2026.
Singapore-based United Overseas Bank (UOB) revised up its GDP growth forecast for Vietnam by 0.5 percentage point to 6.4 percent this year, from the previous projection of 5.9 percent.
Despite a substantial increase in GDP by 7.4 percent in Q3 2024, the number of businesses exiting the market remains high, increasing by 21.5 percent compared to the same period last year. On average, about 18,200 businesses withdrew from the market each month. Conversely, over 183,000 businesses registered as new or resumed operations in the first nine months of 2024, marking a 9.7 percent increase compared to the same period in 2023.
For the year 2025, the Government prioritized stimulating economic growth, continuing to refresh traditional growth drivers while promoting new ones. It plans an accelerated disbursement of public investment capital from the outset of the year, particularly for major national programs and projects, while maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances.
The government targeted to achieve a significant breakthrough in institutional development, maximizing developmental resources, creating new spaces for growth, focusing on developing high-quality human resources, and continuing comprehensive reforms in education and training./.
