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HSBC predicts 6% growth for Vietnam’s economy in 2024



Vietnam’s economy is projected to grow by 6% in 2024, surpassing its growth in 2023, according to HSBC Vietnam economists. This growth is expected to stem from a combination of consumer and investment spending. Foreign Direct Investment inflows are set to continue bolstering Vietnam’s manufacturing sector, while a recovery in global trade will enhance the country’s exports. Additionally, a gradual increase in international tourism is anticipated. HSBC also forecasts the Vietnamese dong to stabilise against the US dollar by the end of 2024. These positive economic indicators are set against a backdrop of stable inflation, with Vietnam’s monetary authority likely to maintain current policy rates.

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