Vietnam’s economic growth target of 6-6.5% for 2024 appears achievable, but challenges remain, particularly for the corporate sector. Gross domestic product (GDP) growth in the third quarter and the first nine months of 2024 has been surprisingly strong, especially considering the significant damage caused by typhoon Yagi in early September. According to the Ministry of Planning and Investment, GDP growth in Q3 is estimated to have expanded by 7.4% compared to the same period last year. This figure exceeds the 6.7% projected in the Government’s Resolution 01/NQ-CP scenario by 0.7%, aligning with the full-year growth scenario of 7% discussed at the regular cabinet meeting in June. Overall, GDP growth in January-September reached 6.82%, with the agriculture, forestry, and fishery sector growing by 3.2%, the industry and construction sector by 8.19%, and the services sector by 6.95%. Despite the challenges posed by natural disasters, the economy has delivered positive results. Several provinces have achieved impressive growth, such as Bac Giang (13.89%), Thanh Hoa (12.46%), Lai Chau (11.63%), and Ha Nam (10.89%). Even localities severely affected by Yagi have managed to maintain strong growth, including Haiphong (9.77%), Quang Ninh (8.02%), Phu Tho (9.56%), Lao Cai (7.71%), Cao Bang (7%), and Yen Bai […]
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