11-6-2024 (HANOI) Vietnam’s economy is anticipated to expand by 6 percent in the second quarter of 2024, a slight increase from the 5.66 percent growth recorded in the first quarter, according to a recent forecast by the Singapore-based United Overseas Bank (UOB).
The UOB’s latest predictions maintain their earlier estimate of 6 percent growth for the entire year of 2024. This outlook is driven by heightened demand in the chip-making industry, the rebound of the Chinese and regional economies, and continual shifts in global supply chains, as reported by the Vietnam News Agency on Tuesday.
Furthermore, inflation in Vietnam is expected to be kept in check at 3.8 percent for 2024, reflecting a stable economic environment.
Looking ahead, UOB forecasts that Vietnam’s economic growth will accelerate to 6.4 percent in 2025.
Aligning with these projections, the Vietnamese government has set a GDP growth target ranging between 6 and 6.5 percent for the current year.
