Overcoming the world economic wave, Vietnam proactively breaks through

The world faces many challenges

According to a report by the Institute for Strategy and Policy Research on Industry and Trade, 2025 will see the global economy facing many headwinds, as growth shows signs of slowing down and trade tensions escalate. This gloomy picture is clearly shown through reports and forecasts from prestigious organizations such as the International Monetary Fund (IMF), S&P Global Market Intelligence and the Organization for Economic Cooperation and Development (OECD).

The IMF in its latest World Economic Outlook report has lowered its global GDP growth forecast to just 2.8% for 2025, down 0.5% from its previous forecast. Notably, major economies are not immune to this trend.

The world economy faces a "storm" of slow growth. Photo: Thuy An

S&P Global Market Intelligence also gave similar figures, forecasting global GDP growth at 2.2% in 2025 and 2.4% in 2026, both lower than previous forecasts.

The European Union (EU) is emerging as a stable trading partner of choice for many countries. European Commission President Ursula von der Leyen said the EU is actively engaging in dialogue with countries such as Canada, India, the UAE and New Zealand to promote multilateral trade. Despite also being subject to tariffs from the US, the EU remains steadfast in its commitment to multilateralism and is preparing for high-level trade talks with China.

Not only trade tensions, world commodity prices have also seen many notable fluctuations in recent times. International coffee prices have increased sharply due to extreme weather in Brazil and Vietnam, two countries that account for more than 50% of global supply.

In the current global economic picture, Central Asia has emerged as a bright spot. The European Bank for Reconstruction and Development (EBRD) forecasts Central Asia’s economic growth to reach 5.7% in 2025, surpassing even China.

The strong rise of Central Asia, along with free trade agreements in the region, opens up many opportunities for Vietnam in areas such as the export of construction materials, machinery and equipment, and investment cooperation.

Vietnam's economic footprint

In contrast to the global economic picture, Vietnam's economy in the first quarter of 2025 still maintained an impressive growth momentum. GDP is estimated to increase by 6.93% over the same period last year, reaching the highest growth rate compared to the first quarter of the years in the period 2020-2025.

Industrial production continued to flourish, with the index of industrial production (IIP) in the first quarter of 2025 estimated to increase by 7.8% over the same period last year. Total import-export turnover of goods also increased by 13.7% over the same period last year, reaching 202.52 billion USD.

The consumer price index (CPI) in March 2025 decreased by 0.03% compared to the previous month, showing that inflation was controlled at a relatively stable level. The average CPI in the first quarter of 2025 increased by 3.22% compared to the same period last year, still within the set target. Controlling inflation helps create a stable macroeconomic environment, supporting economic growth.

Industrial production grows positively. Photo: Can Dung

Vietnam continues to be an attractive destination for foreign investors. Foreign direct investment (FDI) realized in the first quarter of 2025 is estimated at 4.96 billion USD, up 7.2% over the same period last year. Total registered FDI in Vietnam as of March 31, 2025 reached 10.98 billion USD, an impressive growth of 34.7% over the same period last year. This shows that foreign investors still have confidence in the growth prospects of Vietnam's economy.

The development of domestic enterprises also has many positive signs. In the first quarter of 2025, the whole country had 36,400 newly registered enterprises, with a total registered capital of nearly 356,800 billion VND.

The total number of newly established and resuming enterprises in the first quarter of 2025 reached more than 72,900, an increase of 18.6% over the same period last year. The increase in the number of newly established and resuming enterprises shows the recovery and development of the private economic sector, creating momentum for economic growth.

Although Vietnam’s economy has achieved many positive results, it also faces many challenges. The situation of counterfeit goods, fake goods and origin fraud is complicated, greatly affecting consumer confidence and the business environment. In addition, new US tax policies and global trade tensions also pose risks to Vietnam’s capital flows and international trade.

To maintain growth momentum and overcome challenges, Vietnam needs to continue improving its investment and business environment, creating favorable conditions for businesses to develop. At the same time, it is necessary to strengthen market management, strictly control counterfeit goods, fake goods and origin fraud, protect consumer rights and the reputation of Vietnamese goods.

In the context of a volatile world economy, Vietnam also needs to proactively respond to external risks, especially the negative impacts of trade tensions and protectionist policies of major countries. Diversifying export markets, taking advantage of free trade agreements and improving the competitiveness of domestic goods are important solutions for Vietnam to "overcome the wave" and make a breakthrough in the coming time.

Le Trang

Source: https://congthuong.vn/vuot-song-kinh-te-the-gioi-viet-nam-chu-dong-but-pha-384982.html