The Vietnamese economy is forecast to expand at 5.5% in the first quarter of the year as manufacturing and trade regain momentum, according to the United Overseas Bank Limited (UOB).

Vietnam has overcome obstacles in recent years, from the Covid-19 pandemic to upheavals in the country and world, to gain encouraging achievements in economic development.

Vietnam’s gross domestic product (GDP) size was estimated at US$433.3 billion in 2023, ranking fifth in Southeast Asia, according to the latest figures released by the International Monetary Fund (IMF).

Vietnam’s gross domestic product (GDP) size last year was estimated to stand at about US$433.3 billion, ranking fifth in Southeast Asia, according to the latest figures released by the International Monetary Fund (IMF).

Overcoming Covid-19 and long-lasting difficulties caused by the pandemic, Vietnam’s businesses have once again shown resilience.

There are signs that the recovery is becoming more broad-based in Viet Nam, with marginal improvements in sectors like textiles and footwear, as well as machinery, highlighted HSBC in its report Viet Nam at a glance released on March 7.

The current robust development of digital technology, including artificial intelligence, has been providing Vietnam's economy with ample opportunities for growth, improved competitiveness, quality of products and services and production.

Domestic enterprises are suggested taking advantage of global supply chain shifts as Việt Nam is emerging as an attractive investment destination for global investors.

Vietnam remained an exception in attracting Foreign Direct Investment (FDI) on the global and regional scale last year. The Southeast Asian economy was also expected to attract a large amount of FDI this year, said economists and analysts.

Expansionary fiscal and loose monetary policies could be extended for another year when growth is considered a top priority, analysts noted.

According to a survey done by CBRE in November and December, Vietnam is just behind India in terms of attractiveness to investors.

This insight is derived from a report titled "Trade Finance in the Mekong Region", authored by the International Finance Corporation (IFC) and the World Trade Organisation (WTO).

Vietnam will enjoy favourable conditions to fuel its economic recovery this year despite the global moderate growth forecast, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam.

Rising confidence among consumers in the United States is anticipated to help new Vietnamese export orders as they continue to increase over the months ahead, according to investment management firm VinaCapital

The government has made every effort to carry out reshuffling amid difficulties faced by Vietnamese enterprises with its Resolution 02.

Vietnam’s economy is expected to get better in the Year of the Dragon 2024 and perform well for the rest of the decade.

Domestic enterprises are facing challenges as multinational enterprises have high requirements in technology, quality and optimisation, as well as reasonable cost, fast turnaround and delivery.

Vietnam has retained a positive spot in the global economy in 2023 despite the number of businesses leaving the market and the lower-than-expected growth rate for the third consecutive year.

Morgan Stanley Capital International (MSCI), a leading global provider of research-based indexes and analytics, has added three Vietnamese stocks to MSCI Frontier Markets Index.

Vietnam’s Manufacturing Purchasing Managers' Index (PMI) recorded a return to growth in early 2024, driven by an improved economic outlook that led to an increase in new orders, S&P Global has reported.