The year 2025 is of special importance to Vietnam's economy.

TPO - According to economic experts, 2025 is of special importance to the Vietnamese economy because it will end the 5-year plan period of 2021 - 2025. For the Vietnamese economy to "reach the finish line", a lot of outstanding efforts are needed.

TPO - According to economic experts, 2025 is of special importance to the Vietnamese economy because it will end the 5-year plan period of 2021 - 2025. For the Vietnamese economy to "reach the finish line", a lot of outstanding efforts are needed.

At the Vietnam Economic Pulse Forum 2024 with the theme "Future Orientation: Adjusting Vietnam's economic development strategy and policies in the new international context" on November 1, Dr. Nguyen Huu Tho - Head of the Analysis and Forecast Department of the Central Institute for Economic Management (CIEM) - said that Vietnam's economy in 2024 will achieve an encouraging growth rate, expected to be from 6.8 - 7%.

However, Mr. Tho warned that the domestic economic structure is still weak and facing difficulties in expanding into the international market. Specifically, this year the export turnover of domestic enterprises only accounts for 28.1%, lower than the 45.8% in 2010.

This year, the export turnover of domestic enterprises only accounts for 28.1%.

“In the previous stage, for every 100 businesses entering the market, 50 businesses withdrew from the market, leaving 50 additional businesses for the following year. In 2024, for every 100 businesses entering the market, 89 businesses will leave, leaving only 11 businesses participating in the following year,” Mr. Nguyen Huu Tho analyzed.

According to Mr. Tho, in 2025, world geopolitics will be unstable, with many unpredictable developments, but global economic growth is expected to improve thanks to the recovery of trade growth and better control of inflation.

Commenting on attracting foreign direct investment (FDI), Mr. Tho said that the trend of FDI flows to ASEAN and Asia will continue in 2025 and is a bright spot. However, the current scope of FDI impact is uneven, mainly concentrated in 14 provinces and cities such as Hanoi, Ho Chi Minh City, Binh Duong, Dong Nai... (accounting for 74% of total FDI nationwide).

The domestic market in 2025 is expected to have little change in purchasing power, because Vietnamese people's income has not yet made a breakthrough.

Experts at the Vietnam Economic Pulse Forum 2024 (photo: Ngoc Mai).

Regarding the export market, 2025 is forecast to continue to grow quite well like this year. However, if the world's geopolitical developments are unstable, it will greatly affect both exports and imports, because the cost of sea transport increases...

Ms. Tran Thi Hong Minh - Director of CIEM - said that institutional improvement is a core factor to help the economy develop. In the context of global trade recovery, Vietnam's export market is forecast to continue to grow in 2025. However, Vietnam still faces risks from geopolitical instability, increasing trade defense trends and high transportation costs. The State needs to support businesses to take advantage of free trade agreements, while cutting production costs and fighting waste to increase competitiveness.

According to Ms. Minh, the economic picture in 2025 will be brighter when policies to support small and medium enterprises, especially those in disadvantaged areas, are focused on. These initiatives include supporting businesses returning to the market, new businesses, and businesses prioritizing investment in industries that create goods to replace imported goods.

Ngoc Mai

Source: https://tienphong.vn/nam-2025-mang-y-nghia-dac-biet-quan-trong-voi-kinh-te-viet-nam-post1687657.tpo