According to the Vietnam Economic Update report recently published by the World Bank (WB) on September 8th, this result creates an important foundation for Vietnam to aim for high growth in 2025, even as the international economic environment is simultaneously affected by geopolitical and trade challenges.
Speaking at the report launch event, Sacha Dray, the World Bank's economist in Vietnam, commented: "Vietnam is currently the fastest-growing economy in the region, surpassing many countries such as Indonesia, Malaysia, and Thailand."
According to him, the main driver of growth comes from the strong increase in export activity, which has led to a vibrant increase in manufacturing, logistics, and transportation services.
The World Bank forecasts that Vietnam's GDP will grow by 6.6% in 2025, then decline slightly to 6.1% in 2026, before recovering to 6.5% in 2027.
The World Bank report analyzes that, as an export-oriented economy, Vietnam is inevitably affected by the prospect of slower global growth and declining demand from key markets. Furthermore, uncertainties in trade policy could impact consumer and business confidence. However, amidst these challenges, Vietnam maintains a clear competitive advantage as an attractive manufacturing destination in the region.
To consolidate growth and mitigate risks, the World Bank recommends that Vietnam continue to boost public investment, tightly control risks in the financial system, and further promote structural reforms.
Mr. Sacha Dray stated that, in recent times, the allocation rate of public investment capital at both the central and local levels has shown significant improvement. The Vietnamese government has also demonstrated strong political commitment through the establishment of specialized agencies and committees to coordinate and promote disbursement. However, he also noted that there are still many challenges to overcome in order to improve the efficiency of using these funds.
A key highlight of this report – themed “Breaking Through the Development of High-Tech Talent in Vietnam” – is the World Bank’s recommendation on building a high-quality workforce to support innovation and realize Vietnam’s goal of becoming a high-income country by 2045.
According to the World Bank, Vietnam needs not only to expand the number of graduates in STEM (science, technology, engineering, and mathematics) fields, but also to develop a core team of experts capable of leading research, managing laboratories, and transforming ideas into commercial products.
The report also suggests that Vietnam has significant room to increase spending on research and development (R&D), both from the public and private sectors. Currently, Vietnam's R&D spending remains lower than that of many countries in the region.
Source: https://baohaiphong.vn/tang-truong-kinh-te-cua-viet-nam-van-vung-vang-520262.html
![[Photo] Prime Minister Pham Minh Chinh holds a phone call with the CEO of Russia's Rosatom Corporation.](/_next/image?url=https%3A%2F%2Fvphoto.vietnam.vn%2Fthumb%2F1200x675%2Fvietnam%2Fresource%2FIMAGE%2F2025%2F12%2F11%2F1765464552365_dsc-5295-jpg.webp&w=3840&q=75)
Comment (0)