As of April 20, total registered foreign investment in Vietnam had reached 9.27 billion USD, an increase of 4.4% compared to the same period of 2023.

Vietnam aims to post export turnover of 14-16 billion USD from six key industrial crops by 2030.

Forty-nine years since Reunification Day (April 30, 1975 - 2024), Vietnam has recorded significant progress in its socio-economic development and quality of life for its citizens has continually improved. The scale of its GDP has consistently expanded, reaching approximately 430 billion USD in 2023, making it the fifth-largest economy in ASEAN and 35th among the world’s largest 40 economies.

The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.

Vietnam’s industrial sector posted significant growth in the first quarter of 2024, of an estimated 6.18% compared to the first quarter of 2023. In particular, manufacturing and processing saw robust growth of 6.98%.

Figures from the General Statistics Office show that Vietnam’s economy is experiencing a strong recovery during the first quarter of 2024. GDP growth is higher than in the first quarter in the 2020-2023 period, while tourism is booming and an impressive trade surplus has been posted.

As of March 20, total newly-registered, additional, and contributed capital and share purchases of foreign investors stood at more than 6.17 billion USD in 2024, a year-on-year increase of 13.4%.

In the first two months of 2024, economic indicators paint a dynamic picture for Vietnam with the Consumer Price Index (CPI) surging by an average of 3.67%, core inflation increasing by 2.84% and total registered foreign investment reaching nearly 4.29 billion USD.

The Asian Development Bank (ADB), Bloomberg, and HSBC have all forecast that Vietnam’s GDP growth could reach 6 percent in 2024. Standard Chartered Bank, meanwhile, has forecast 6.7 percent, surpassing Vietnam’s own growth target of 6-6.5 percent.

The consumer price index (CPI) increased 3.37% in the opening month of 2024, foreign direct investment 40.2%, international arrivals 73.6%, and the Index of Industrial Production (IIP) 18.3%.

The size of Vietnam’s e-commerce market is estimated to have reached 20.5 billion USD in 2023, for growth of 25 percent compared to 2022. This demonstrates that e-commerce is increasingly asserting its position as a crucial component of Vietnam’s digital economy, driving economic development and leading digital transformation in businesses.

Vietnam’s rice production in 2023 stood at 43.5 million tonnes, an increase of 1.9%, adequately meeting domestic consumption, processing, animal feed production, and exports, which set a record of nearly 8.3 million tonnes.

Vietnam’s economy tended towards recovery in 2023, with macroeconomic stability maintained, inflation controlled, major balances ensured, and significant achievements made across various sectors, with set targets met. The country continues to be a bright spot in the regional and global economies.

Total newly-registered foreign investment capital, adjusted and contributed capital to buy shares and buy contributed capital of foreign investors totalled 36.6 billion USD as of December 20, 2023, an increase of 32.1% compared to 2022.

The trend towards economic recovery continued in Vietnam, with each successive month revealing further improvements over the previous month and each subsequent quarter surpassing the prior quarter. The country essentially achieved its overall goals and posted significant results in various sectors. It remained a bright spot amid a rather challenging global economic landscape.

Business registrations continued to be a bright spot within the overall landscape of Vietnam’s economy in 2023, with nearly 160,000 new enterprises being established, an increase of 7.2% compared to 2022.