According to Minister Dung, Vietnam continues to be an attractive destination for global FDI flows – which are declining, and competition among countries is increasingly fierce. FDI attraction in 11 months of 2024 is estimated at nearly 31.4 billion USD, realized FDI capital is estimated at about 21.7 billion USD, up 7.1% over the same period.
The expected growth figure of 7% in 2024 is higher than the forecasts of many international financial organizations and institutions.
Specifically, in November 2024, Standard Chartered Bank forecasted Vietnam’s GDP growth in 2024 to reach 6.8% (from 6.0%).
At that time, Mr. Tim Leelahaphan, Economist for Thailand and Vietnam – Standard Chartered Bank, commented that although short-term economic pressure in Vietnam may still exist, Standard Chartered believes that the economy’s performance is better than market expectations.
In the forecast at the beginning of 2024, a Bloomberg survey said that Vietnam’s economy could grow 6.3% in the first quarter of 2024 and 6.5% in the second quarter of 2024. GDP growth is forecast at 6% in 2024 and 6.4% in 2025.
In the article at that time, Mr. Han Teng Chua, Economist at the Development Bank of Singapore (DBS), commented that Vietnam’s economy is recovering. Foreign direct investment (FDI) is likely to continue to increase as Vietnam remains attractive for investment in the coming years as companies diversify and reduce supply chain risks by expanding their manufacturing operations to Vietnam. Competitive wage costs, an extensive network of trade agreements, and a favorable business environment are important advantages for the Vietnamese economy.
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