Vietnam is one of the world’s fastest-growing economies, according to a recent report on investment opportunities in the country. Expert Jacqueline Broers forecasts Vietnam’s GDP to reach 5.8% in 2024 and 6.9% in 2025, significantly higher than the global average of 2.3%.
One of the key drivers of Vietnam’s impressive growth, according to Broers, is its favorable demographic structure. She attributes Vietnam’s success to its abundant and well-educated workforce. Rapid urbanization further fuels production and economic growth.
S&P affirms that Vietnam, with its stable and diverse economy, remains an attractive destination for foreign investment…
“Vietnam aims to become an upper-middle-income country by 2035 and a high-income country by 2045,” Broers said. “The country benefits from a well-educated and cost-competitive workforce, with adult literacy rates as high as 98%. This, among other factors, makes Vietnam increasingly appealing to foreign investors seeking to diversify their supply chains, as seen with Apple. Foreign direct investment into Vietnam is strong and resilient.”
Utilico’s Jacqueline Broers acknowledges supply chain challenges but believes that with proper government navigation, Vietnam can become a preferred investment destination in Asia.
HSBC’s Global Research team also published a report this week, echoing similar sentiments. They highlighted Vietnam’s remarkable transformation into a significant manufacturing hub deeply integrated into global supply chains. Export growth has averaged over 13% annually since 2007, largely driven by foreign-invested enterprises.
According to HSBC, the interest of multinational corporations in Vietnam can be attributed to several factors, including competitive costs, FDI-friendly policies, and proactive government support through tax incentives.
Meanwhile, credit rating agency S&P maintains a stable outlook for Vietnam’s economy, reflecting expectations of continued robust economic growth. They believe that financial sector challenges are unlikely to significantly weaken the government’s strong balance sheet.
S&P affirms that Vietnam, with its stable and diverse economy, remains an attractive destination for foreign investment, particularly in the manufacturing sector, as companies seek to diversify their regional operations.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
