Vietnam has great potential for medium-term growth and FDI attraction

Standard Chartered Bank forecasts Vietnam's GDP growth to reach 6.7% in 2024.

That was the affirmation of Ms. Michele Wee, General Director of Standard Chartered Bank Vietnam at the sharing session on the global research report held recently in Ho Chi Minh City.

Vietnam has great potential for medium-term growth and FDI attraction.

According to Ms. Michele Wee, Vietnam has great potential for growth and FDI attraction in the medium term. As a leading foreign bank with a presence in Vietnam for the past 120 years, Standard Chartered Bank is proud to empower businesses with its knowledge and commitment to continue supporting customers and partners on the journey ahead. This is one of the bank's continuous efforts to support Vietnam's sustainable development and promote a prosperous business environment here.

Previously, Standard Chartered Bank, in collaboration with the European Chamber of Commerce in Vietnam (EuroCham) and the British Chamber of Commerce in Vietnam (BritCham), organized a seminar on Vietnam’s economic overview in Hanoi. The event attracted many important Standard Chartered clients and business leaders, providing useful sharing from the bank’s economic experts to provide perspectives on orienting Vietnam’s dynamic economy and capturing and exploiting its potential.

Standard Chartered Bank economists provide in-depth analysis of growth indicators, potential disruptions and the Government's roadmap.

According to Mr. Edward Lee, Chief Economist for ASEAN and South Asia, Standard Chartered Bank, global economic growth continues to face challenges. Inflation has moderated but remains above the pre-Covid pandemic average. Tight global monetary policy continues to weigh on growth. Global trade is forecast to bottom out but is not expected to see a strong recovery.

Mr. Tim Leelahaphan, Vietnam and Thailand economist, Standard Chartered Bank, forecasts that Vietnam's GDP growth will reach 6.7% in 2024 (forecasted to reach 6.2% in the first half of the year and 6.9% in the second half of the year). Especially, import and export are starting to recover, although e-commerce has not yet shown clear signs of recovery.

Therefore, to maintain growth and competitiveness, Mr. Tim Leelahaphan recommends that Vietnam needs to develop infrastructure and reduce carbon emissions.

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