#economy

The Organisation for Economic Co-operation and Development (OECD) has revised upward its medium-term outlook for Việt Nam, projecting GDP growth of 6.2 per cent for 2026 and 5.8 per cent for 2027, according to its latest global economic outlook released on December 2.

A strong economy thrives on dynamic enterprises and prosperous communities. In Vietnam, the private sector plays a pivotal role, contributing around 50% of GDP, over 30% of state budget revenues, and generating jobs for 82% of the workforce. In Quang Ninh, this sector serves as a cornerstone of growth and transformation.

On July 2, the Standing Committee of the Quang Ninh Provincial Party Committee convened a conference to review and evaluate the province’s performance during the first half of 2025 and to discuss key priorities for the remainder of the year.

Việt Nam’s economy is forecast to grow at 6.6 per cent and 6.5 per cent in 2025 and 2026, respectively, following a robust 7.1 per cent growth last year, according to the Asian Development Bank (ADB)’s flagship annual economic publication, released on Wednesday.

Viet Nam is highly potential to grow into a US$2 trillion economy by 2050, said Prof. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF).

Viet Nam is likely to be the fastest-growing economy in ASEAN in 2024, HSBC noted in its report Viet Nam at a glance released on Wednesday.

According to the GSO, the country's GDP growth in the first six months was 6.42 per cent year-on-year.

Vietnam’s economy in Q1/2024 shows strong recovery and positive results across various sectors, setting the stage for successful the achievement of the 2024 socio-economic development plan.

The Asian Development Bank (ADB) has maintained its earlier growth projection for Vietnam this year despite lingering uncertainties in the external environment. Vietnam’s economy is expected to grow at 6.0% and 6.2% in 2024 and 2025, respectively, heard a conference held in Hanoi on April 11.

The strong inflows of Foreign Direct Investment will likely continue in 2024, buttressing Việt Nam’s manufacturing sector. The nascent recovery of the global trade cycle will boost Việt Nam’s exports. Furthermore, Việt Nam is likely to witness a gradual uptick in international tourism.

Public investment, domestic consumption, and export recovery will be the three main growth drivers of Vietnam's economy in 2024, the Asian Development Bank (ADB)’s Country Director for Vietnam Shantanu Chakraborty has told the Vietnam News Agency.

The International Monetary Fund (IMF) predicted that Viet Nam's GDP will grow by 5.8 percent in 2024, making it among the 20 highest growing economies in the world.

Việt Nam's real GDP is expected to grow at 4.7 per cent this year, according to the October 2023 report by the International Monetary Fund (IMF) on Asia and the Pacific region. IMF's projection for Việt Nam's real GDP growth for 2024 and 2025 were 5.8 per cent and 6.9 per cent, respectively.

Vietnam’s economy is showing signs of improvement as services and manufacturing start to gain back growth momentum amid global challenges, analysts say.

The economic output of Ha Long — the capital city of Quang Ninh Province — increased by 10.9% during the January-September period, the city’s Party Committee reported at a meeting on September 28.

Viet Nam’s economic growth is expected to slow down to 5.8% in 2023 and 6.0% in 2024, compared to the April 2023 forecast of 6.5% and 6.8% respectively, mainly due to weak external demand, according to a report by the Asian Development Bank (ADB) released on September 27th 2023.

Amid a decrease in industrial production, Vietnam is under great pressure to help the economy out of its woes and to touch its desired economic growth targets from now until 2025.

Although the current difficulties cannot be changed in the short term, it is forecast that Vietnam’s economic growth will accelerate in the second half of 2023 and thrive from the beginning of 2024.

Over the past years, Quang Ninh Province has made efforts to accelerate economic restructuring from a "brown" to a "green" economy, gradually reducing industries that are heavily dependent on mineral resources, and have a major impact on the environment, promoting smart and environmentally friendly industries.