ANTD.VN - Domestic and international organizations have just released the latest forecasts on Vietnam's economic growth in 2025 with many optimistic assessments. Looking back at 2024, when goals and plans have been "reached", businesses in the capital are full of confidence in a successful new year.
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Representatives of enterprises belonging to the Hanoi Supporting Industry Enterprises Association (HANSIBA) learn about the aviation industry sector. |
Must continue to maintain an attractive investment environment
Despite facing numerous difficulties stemming from both subjective and objective causes, by the end of 2024, Vietnam's economy still grew beyond its set target. Vietnam is considered the country with the highest growth rate in the region. Vietnam's economic growth momentum in 2024 is said to be even in all three sectors: agriculture - forestry - fishery; industry - construction and services.
Speaking to the press, Mr. Andrea Coppola - Chief Economist and Manager of the Equitable Growth, Finance and Institutions Program of the World Bank in Vietnam, Laos and Cambodia, gave a positive assessment of Vietnam's economy in 2024. Vietnam's economy has been resilient in the face of adversity to achieve impressive achievements.
“Vietnam has not only maintained its economic growth momentum but also continued its long-term growth trend. In particular, I would like to emphasize that in 2024, Vietnam became one of the fastest growing economies in the East Asia - Pacific region thanks to the recovery of exports and domestic demand. This is a commendable achievement and I believe that this positive trend will continue in 2025,” said Mr. Andrea Coppola. Vietnam's growth rate in 2025 is forecast by the World Bank to be around 6.5%. This is an expected result for many countries in the context of overlapping difficulties.
According to the Macroeconomic and Financial Market Analysis Report of Techcombank's Economic and Financial Market Analysis Department, the positive picture will continue in 2025. Techcombank experts forecast economic growth of about 6.8% for the Vietnamese economy next year, with one of the main growth drivers continuing to be the manufacturing and processing industry, although it is necessary to continue to observe import tax risks.
From a business perspective, Vice President and General Secretary of the Hanoi Association of Small and Medium Enterprises - Mr. Mac Quoc Anh said that 2025 is forecasted to continue to inherit positive factors from last year.
According to the Asian Development Bank (ADB), Vietnam can achieve GDP growth of 6.5-6.8% if it maintains its reform momentum, promotes digital transformation and expands Free Trade Agreements (FTAs). China's reopening of its economy will also have a positive impact on supply chains in which Vietnam is an important link. However, challenges such as global trade competition, geopolitical fluctuations and declining consumer demand in major markets may still slow down the recovery. "Therefore, for 2025 to truly flourish, Vietnam needs to continue to maintain an attractive investment environment, promote innovation and develop green industries - an irreversible trend of the global economy," said Mr. Mac Quoc Anh.
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Engineers work at a factory in Hoa Lac Hi-Tech Park. |
According to the Corruption Perception Index of the international organization Transparency.org, Vietnam has made great improvements in the past 10 years, surpassing a series of neighboring countries such as Thailand, Indonesia, India, the Philippines, and being on par with China. This factor is one of the extremely important conditions, helping FDI investors have confidence in investing in Vietnam.
In addition, the Government has also been proactive in making proposals to maintain the attractiveness of the investment environment in Vietnam, retain and attract new investment in the new context of implementing the Global Minimum Tax. Accordingly, the support level is up to 50% of the actual expenditure on projects related to training and human resource development. The above points show that the growth momentum of both disbursed FDI and registered FDI will continue in 2025 and continue to focus on two key sectors: manufacturing (especially the semiconductor industry) and real estate.
Rise strong to enter the new era
Hanoi is currently the second largest economic center of Vietnam, contributing more than 16% of the country's GDP and is home to more than 300,000 businesses, including many large corporations and innovative startups. In 2024, Hanoi businesses demonstrated their strengths in many fields, especially in digital transformation and innovation. Hanoi currently leads the country in the number of businesses applying digital technology in production and management. According to statistics, about 55% of businesses in the area have deployed digital platforms, especially in e-commerce and logistics. Quality of human resources: Hanoi has a well-trained workforce with more than 60% having a university degree or higher. This is an important factor helping Hanoi businesses quickly adapt to new trends.
With the support of mechanisms such as the Hanoi Association of Small and Medium Enterprises, businesses have expanded international cooperation, making good use of FTAs (Free Trade Agreements) such as EVFTA and RCEP. However, Hanoi businesses also face many challenges, especially limitations in scale and capital.
About 98% of Hanoi businesses are small and medium-sized enterprises (SMEs), with low capital and competitiveness in the international market; limited ability to adapt to fluctuations. Although many businesses have transformed digitally, their ability to respond to global economic risks is still weak. According to a survey, 45% of small and medium-sized enterprises in Hanoi have difficulty finding new markets; costs of premises and labor in Hanoi are still higher than in other localities, reducing competitive advantage...
Vice President and General Secretary of the Hanoi Association of Small and Medium Enterprises Mac Quoc Anh said that Hanoi enterprises not only represent economic development but also the image of Vietnam in the international arena. Improving competitiveness and sustainable development is not only the goal of enterprises but also a responsibility to the community.
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Hanoi honors Thang Long 2024 enterprises and entrepreneurs who have made many positive contributions to the socio-economic development of the capital. |
To thrive in the new era, Hanoi businesses need to focus on promoting innovation, strengthening cooperation with multinational corporations and improving product quality to meet international standards. At the same time, it is necessary to build a long-term strategy to effectively exploit opportunities from the digital economy and green transformation. Chairman of the Hanoi Supporting Industry Enterprises Association (HANSIBA) - Mr. Nguyen Hoang shared that to develop a circular and sustainable Hanoi economy, Hanoi needs to carefully study the 17 sustainable development goals of the United Nations and the models of some capitals in Asia, Northern Europe... to come up with a program and model for the capital.
To do this, Hanoi should allocate funds for research and implementation in all fields; provide a roadmap for each industry, and send a clear message to every citizen living and working in the capital to implement together. Circular economy is sustainable - green - clean, good living environment, longevity, health and living standards will improve for every citizen and worker in the capital. At the same time, Hanoi needs to establish a Sustainable Socio-Economic Development Council, inviting experts in various fields, businesses... to participate in the implementation.
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The customs of Lunar New Year are still preserved intact by the people of the capital to this day. Photo: Lam Thanh |
According to Mr. Nguyen Van - Vice President of HANSIBA, HANSIBA enterprises in particular and Hanoi enterprises in general have high expectations that the socio-economic development solutions in 2025 will be effective. The 2024 Capital Law, which has just been passed, is the legal basis for Hanoi to carry out socio-economic development.
“We should take Hanoi’s “uniqueness” in conjunction with the 17 sustainable development goals of the United Nations to create a message - a white paper for the capital. It is necessary to develop and select economic sectors that are the backbone - the core for sustainable - green - clean development for the capital and the spillover effect to the Northern Delta region and the whole country. At the same time, Hanoi should have a model of a spreading circle for economic development, that is, industry associated with agriculture, then associated with health, education, culture, tourism... All are linked together, complementing each other, taking advantage of each other to develop. It is imperative to take a peaceful - green - clean - happy life - the best living standard for Hanoi people as a development goal, from which Hanoi will be a model to replicate throughout the country” - Mr. Nguyen Van - Vice President of HANSIBA commented.
Source: https://www.anninhthudo.vn/2025-nam-chap-canh-cho-doanh-nghiep-thu-do-post601682.antd
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