IMF projects Vietnam’s growth at nearly 6% this year

The Vietnamese economy is likely to expand by close to 6% in 2024, driven by a recovering export sector, robust foreign direct investment, and policy support, the International Monetary Fund (IMF) said on June 26.

IMF projects Vietnam’s growth at nearly 6% this year -0
Vietnam's economic growth will be driven by a recovering export sector, robust foreign direct investment, and policy support, said the IMF. (Photo: VNA)

It held that exports, a key driver for the economy, could weaken if global growth disappoints, global geopolitical tensions persist, or trade disputes intensify.

“Domestically, persistent weakness in the real estate sector and corporate bond market could weigh more than expected on banks’ ability to expand credit”, the IMF said.

“Given easy monetary conditions, if exchange rate pressures were to persist for longer, it could lead to a larger pass-through to domestic inflation,” it added.

Increasing productivity, further investing in human and physical capital, and incentivising private investment in renewable energy is key to the country, according to the IMF.

Economy

Da Nang strengthens cooperative ties with Thai localities
Economy

Da Nang strengthens cooperative ties with Thai localities

Vice Chairwoman of the People's Committee of the central city of Da Nang Nguyen Thi Anh Thi on September 26 hosted a Thai delegation led by Thai Consul General in Ho Chi Minh City Wiraka Moodhitaporn, and Khon Kaen Deputy Governor Siriwat Pinijpanich, who are in the city to attend the "Meet Thailand in Da Nang" conference.

UN Special Rapporteur highly values Vietnam's progress
Economy

UN Special Rapporteur highly values Vietnam's progress

United Nations (UN) Special Rapporteur on the right to development Surya Deva had a dialogue in Geneva on September 18 with countries on his activities over the past year, during which he highly valued the Vietnamese Government's multidimensional poverty reduction approach.

Australian plums to be available in Vietnam
Economy

Australian plums to be available in Vietnam

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Vinamarine prohibits profiteering in emergency situations
Economy

Vinamarine prohibits profiteering in emergency situations

The Vietnam Maritime Administration (Vinamarine) under the Ministry of Transport strictly prohibits all acts of taking advantage of emergency situations, storms and floods to raise service prices inconsistent with fluctuations in total costs compared to normal conditions for profiteering.