
Vietnam's GDP growth is on track to surpass its 7% target for 2024, aided by supportive policies and stronger export performance, Deputy Minister of Planning and Investment Tran Quoc Phuong said. International organisations have revised forecasts upward, and a third-quarter ministry scenario suggests that barring major disruptions, the economy will meet its goal. Robust export orders, steady foreign direct investment, and a rebound in new business registrations have strengthened economic momentum. While consumer spending remains weaker than expected, upcoming holiday seasons could boost activity. Potential U.S. Federal Reserve interest rate cuts may further stabilise macroeconomic conditions. Vietnam aims for 6.5%-7% growth in 2025, with reforms and administrative streamlining potentially unlocking additional resources, aligning with the country’s long-term development ambitions.