Despite global uncertainties, the Asian Development Bank (ADB) has reaffirmed its growth projection for Vietnam's economy. Anticipating growth rates of 6.0% in 2024 and 6.2% in 2025, Vietnam is poised for steady expansion.

ADB Chief Economist in Vietnam, Nguyen Ba Hung, highlighted the impact of global factors on Vietnam's growth in 2023 but noted the country's proactive monetary policies and public investments as key drivers for recovery.

With strong export-led manufacturing, stable agriculture performance, and positive inflows of foreign investment and remittances, Vietnam's recovery momentum remains robust. ADB Country Director for Vietnam, Shantanu Chakraborty, emphasized the need for a balanced approach to policy measures, combining short-term growth support with long-term structural reforms.

While global demand softens and geopolitical tensions persist, Vietnam's export-led growth may face challenges. To address structural fragilities and accelerate growth, comprehensive measures are necessary, focusing on diversifying the economy, strengthening domestic demand, and improving regulatory frameworks for business.

Despite these challenges, Vietnam's solid growth trajectory is underpinned by effective public investment and ongoing policy reforms. With concerted efforts to address structural issues, Vietnam is well-positioned for sustainable growth in the coming years.