Vietnam’s National Assembly recently approved a 2025 GDP growth target of 6.5-7%, with a high-growth scenario set at 7-7.5%. In a global economy rife with uncertainties, what drives Vietnam’s confidence in achieving such ambitious growth? And where might challenges arise? External challenges Vietnam’s GDP growth in all of 2024 could reach 7% if the economy expands by 7.5% in Q4. However, it would be tough to achieve it, as recent economic activities have been disrupted since typhoon Yagi hit northern Vietnam in September. Meanwhile, the National Assembly has set the 2025 growth target at 6.5-7%, striving for 7-7.5%, despite ongoing global economic uncertainties. In its latest report, the International Monetary Fund (IMF) revised its 2025 global economic growth forecast down by 0.1 point to 3.2%, citing numerous challenges that could hinder growth. These include heightened geopolitical uncertainties, especially the conflict in the Middle East, and protectionist policies pursued by countries aiming to safeguard domestic industries and labor forces. Under these circumstances, the IMF warns that Vietnam’s export sector—a key economic driver—may face headwinds if global growth is below expectations. The re-election of Donald Trump to U.S. Presidency presents another significant risk to the global economy in 2025, with the potential […]
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