According to the World Bank, Vietnam’s economic growth is expected to pick up in 2024, driven by a rebound in manufactured exports and tourism, and recovering consumption and business investment.
Its economy is forecast to grow by 6.1% in 2024, and a further 6.5% in both 2025 and 2026. The country enjoyed 5% growth in 2023. The World Bank report ‘Reaching New Heights in Capital Markets’ highlights the resilience of the Vietnamese economy despite rising global challenges, though not yet back to its pre-pandemic growth path.
A special chapter of the report finds that development of capital markets would provide a vital source of long-term funding for Vietnam’s economy and help the country achieve its goal of becoming a high-income nation by 2045. The report also recommends policies that would help attract more foreign investors.
A booming economy, with increasing foreign investment, means Vietnam will increasingly become a key market for relocation in the future.
Photo: The World Bank report: Reaching New Heights in Capital Markets.