Vietnam's economy shows resilience with robust trade surplus: US news site

It cited a report by Dynam Capital Limited as saying Vietnam’s exports, particularly in computers, electronics, phones, machinery, and textiles, have seen significant growth, bolstered by strong performances across major markets such as China, the US, the Republic of Korea, Japan, and the EU.

Public investment in the Southeast Asian nation also experienced an upturn, with 73.5% of the annual target disbursed by November, totaling US$22.9 billion, a 2.4% increase from the previous year.

Despite the positive figures, the retail sector's growth pace remains slower than pre-COVID levels, although sectors like hospitality, food services, and tourism have contributed to healthy retail sales throughout 2024.

The Vietnamese government has approved a US$67 billion high-speed railway project, which is expected to enhance connectivity between Hanoi and Ho Chi Minh City, significantly impacting economic growth and environmental sustainability.

According to the site, the amended Securities Law, approved by Vietnam's National Assembly on November 29, marks a significant milestone for the country's stock market.

It introduces provisions aimed at strengthening the responsibilities of issuers, advisory units, and auditors, which are expected to improve transparency and regulatory monitoring, thereby bolstering investor confidence and setting the stage for Vietnam to achieve emerging market status between 2025 and 2026, it said.

Looking ahead, Vietnam's economy is projected to grow between 6-8% in 2025, with the World Bank forecasting a 6.5% GDP increase and the International Monetary Fund expecting a 6.1% rise.

These projections are supported by strong external demand and sustained foreign direct investment, despite global economic uncertainties and shifting trade policies.