International Organizations Upgrade Vietnam’s Growth Forecast
In October, Standard Chartered Bank revised Vietnam’s growth forecast for 2025 upward to 7.5% (from 6.1% in July), and to 7.2% for 2026. Similarly, HSBC increased its forecast to 7.9% for 2025 (from 6.6%) and 6.7% for 2026. UOB Bank also raised its 2025 growth projection to 7.5% (from 6.9%).
According to Minister Nguyen Van Thang, since the beginning of the year, Vietnam has steadfastly tackled a substantial and complex workload, promptly addressing emerging issues. These efforts have maintained macroeconomic stability, controlled inflation, ensured major economic balances, and boosted production and business activities.
The Consumer Price Index (CPI) for the first ten months rose by 3.27% year-on-year. Credit growth reached 20.69% compared to the same period last year. State budget revenue for the ten months is estimated at over VND 2,180 trillion, equivalent to 111% of the plan and a 30.8% increase year-on-year.
Minister of Finance Nguyen Van Thang at the meeting. Photo: VGP
However, Minister of Finance Nguyen Van Thang highlighted that achieving the 2025 growth target remains challenging. Macroeconomic stability faces external pressures. While institutional and legal improvements have been prioritized, obstacles persist, lagging behind development demands. Consecutive natural disasters and floods have caused significant damage across regions, with complex developments expected in the final months of the year.
Accelerate Completion of the State Economic Development Plan
Emphasizing the substantial workload for the final two months, Minister Nguyen Van Thang proposed key solutions requiring proactive, decisive, and meticulous implementation. He urged maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances.
Regarding institutional and legal enhancements, the Ministry of Justice will continue advising on and resolving legal bottlenecks. A comprehensive report on administrative procedure reductions and simplifications is to be submitted to the Prime Minister by November 15.
The Ministry of Finance is tasked with finalizing the State Economic Development Plan and urgently submitting the Foreign Investment Economic Development Plan to the Politburo in November 2025. Efforts to streamline investment registration procedures and reduce market entry times are also underway.
The Ministry of Agriculture and Environment, along with other ministries, agencies, and localities, must focus on post-disaster recovery, providing effective support to help citizens and businesses stabilize and resume operations.
Additionally, the Ministries of Education and Health are to effectively implement Politburo resolutions and government action programs on education, healthcare, and public health. Preparations for the groundbreaking ceremony of primary and lower secondary boarding schools in border communes on November 9, 2025, are also prioritized.
International Organizations Revise Vietnam’s Growth Forecast Upward by 1-1.5%
Vietnam’s economic outlook for 2025 has received a boost, with multiple international organizations revising their growth forecasts upward by 1-1.5%. Finance Minister Nguyen Van Thang announced this positive development, highlighting the country’s continued economic momentum.
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