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Vietnam’s economy set to grow 5.5% in 2024

Vietnam’s economy is poised to grow by 5.5% in 2024 and 6% in 2025, driven by recovery signs and stronger exports, according to a World Bank report. The increase in domestic consumption and private investment contributes to this growth, with export prices expected to rise by 3.5% annually through 2025. The property sector is also forecast to rebound, boosting investor and consumer confidence. Fiscal policies supporting public infrastructure projects are crucial for further economic stimulation, potentially increasing GDP growth by 0.1 percentage points for every percentage increase in public investment. However, challenges such as managing rising non-performing loans and maintaining financial stability remain. The report emphasises the need for structural reforms and enhanced support for innovation and startups.


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