Vietnam's economy is improving, a series of international organizations raise growth forecasts

(Dan Tri) - International organizations such as HSBC, UOB, Standard Chartered and ADB have simultaneously raised their forecasts for Vietnam's GDP growth to 6.7-7.9% this year, reflecting confidence in the macroeconomic recovery.

Reporting at the regular Government meeting on November 8, Minister of Finance Nguyen Van Thang said that since the beginning of the year, Vietnam has continued to maintain macroeconomic stability, control inflation, ensure major balances, and promote production and business.

Many international organizations continue to raise their growth forecasts for this year by 1-1.5%. For example, in October, Standard Chartered forecast Vietnam's growth this year to be 7.5%, higher than the 6.1% forecast at the end of July. HSBC raised its growth forecast from 6.6% to 7.9%; UOB raised its forecast to 7.5% (previously 6.9%); ADB raised its forecast to 6.7%.

Many positive economic signals such as the consumer price index (CPI) in the first 10 months increased by 3.27% over the same period; high credit growth, reaching 20.69% over the same period; State budget revenue in the first 10 months is estimated at over 2.18 million billion VND; State budget revenue structure is towards sustainability.

At the same time, traditional growth drivers continued to be promoted and renewed. Of which, total registered FDI capital in 10 months was over 31.5 billion USD, up 15.6%. Trade surplus reached nearly 19.5 billion USD. Total retail sales of goods and consumer service revenue in 10 months increased by 9.3%, international arrivals reached nearly 17.2 million.

Minister of Finance Nguyen Van Thang speaks at the meeting (Photo: VGP).

The Minister of Finance pointed out that this year's growth mission still faces many challenges. Specifically, macroeconomic stability is still under pressure from the outside, and institutional improvement has not kept up with development requirements. Meanwhile, natural disasters and floods have continuously caused heavy damage in many localities, continuing to develop complicatedly in the last months of the year.

To complete the yearly target, Minister Nguyen Van Thang said that ministries, branches and localities must be more proactive and closely monitor the direction and management. At the same time, operators need to improve institutions and reform administrative procedures, aiming for 100% of procedures to be carried out regardless of provincial administrative boundaries by the end of 2025.

The Ministry of Justice , Finance and relevant agencies should promptly review, reduce procedures and remove legal obstacles. Ministries, sectors and localities should focus on promoting investment, stimulating consumption, and unlocking new resources and growth drivers such as science and technology, innovation and digital transformation.

Source: https://dantri.com.vn/kinh-doanh/kinh-te-viet-nam-khoi-sac-loat-to-chuc-quoc-te-nang-du-bao-tang-truong-20251108150508267.htm