Amidst global economic uncertainties, Vietnam remains a beacon of promising growth, earning praise from Prime Minister Pham Minh Chinh as a secure haven for foreign investors.
The Vietnamese Ministry of Foreign Affairs underscores that while the global economy exhibits positive signals, it is not devoid of risks and maintains a pessimistic growth outlook.
Predictions indicate a 1.5 percent growth rate in the U.S., 4.5 percent in China, 1.2 percent in Japan, and 0.6-0.9 percent in European Union countries this year.
Despite this, international organizations express optimism about Vietnam’s growth prospects.
The International Monetary Fund forecasts a 5.8 percent economic growth for Vietnam in the upcoming year, ranking the nation 20th globally in terms of growth pace.
Fitch Ratings, an American credit rating agency, projects a GDP expansion of 6.3 percent in 2024 and seven percent in 2025.
A November cabinet meeting resolution highlights the regained growth momentum, especially in the industrial sector.
The country’s state budget revenue, reaching 94.9 percent of its annual target from January to November, indicates positive economic trends.
With a 6.7 percent increase in exports, a 5.1 percent rise in imports, and a trade surplus of US$25.83 billion in the 11-month period, Vietnam is resilient in the face of global uncertainties.
Attracting nearly $28.85 billion in foreign investment, Vietnam demonstrates stability and growth amid global volatility.
Dr. Tran Dinh Thien, former director of the Vietnam Institute of Economics, emphasizes Vietnam’s adept navigation through global economic fluctuations.
A survey by the Japan External Trade Organization identifies Vietnam as the most promising business development destination in ASEAN, with over 60 percent of Japanese firms planning expansion in the next two years.
Ranking 75th out of 134 countries on the 2023 Global Talent Competitiveness Index, Vietnam surpasses Thailand, Indonesia, and the Philippines.
As evidenced by Savills World Research, Vietnam emerges as one of the safest shelters for foreign investors, poised to lead in sustainable development within the Southeast Asian region, with 85 percent of its fastest-growing companies adopting the Environmental, Social, and Governance (ESG) model.
