EXPORTS AND FDI VIETNAM’S GROWTH DRIVERS IN Q4
Vietnam’s economy in the first eight months of 2024 showed positive results, with a strong growth rate highly regarded by international organizations. Many international institutions are optimistic about Vietnam's economic growth. The World Bank predicts a 6.1% increase in 2024, and 6.5% in 2025 and 2026; UOB forecasts growth above 6%, and HSBC 6.5%.
STATE BUDGET REVENUE PROJECTED TO SURPASS 10% TARGET
The 2024 State budget revenue aims to exceed estimates by 10%. This directive is outlined in Prime Minister Pham Minh Chinh's Official Dispatch 85/CD-TTg, dated September 2, 2024, which was sent to ministers, heads of ministerial-level agencies, government agencies, and chairpersons of provincial and municipal people's committees.
VIETNAMPLAS - THE 22ND VIETNAM INTERNATIONAL PLASTICS & RUBBER INDUSTRY EXHIBITION
VietnamPlas is a well-known procurement and trade platform for the Vietnam plastics and rubber industry. This year, the 22nd VietnamPlas has once again expanded in scale! For the first time, it is collaborating with 630 leading exhibitors from 22 countries and regions, introducing more innovative technologies and driving continuous growth and development in the industry.
BANKS LEND SIGNIFICANT AMOUNTS TO GREEN PROJECTS
By participating in the package, enterprises can access preferential loan interest rates, receive quick and timely disbursement, and get consulting support from a team of competent experts. The package will last until December 31, 2025.
PM URGES FASTER DEVELOPMENT OF KEY INFRASTRUCTURE PROJECTS
Chinh chaired the 14th meeting of the State steering committee for key national infrastructure projects in Hanoi this afternoon, September 17, emphasizing that the implementation of these projects is an important political task.
LAND HIKE SHOCK DEEMED NECESSARY
An adjusted land price list in Ho Chi Minh City is set to bring higher compensation for around 80,000 households whose land will be recovered for various projects, but it is also expected to drive up real estate prices. On August 28, Nguyen Toan Thang, director of Ho Chi Minh City Department of Natural Resources and Environment, confirmed that according to the draft, land prices in many areas of the city are expected to increase by up to 50 times.
BANKING STOCKS REMAIN ATTRACTIVE IN FINAL QUARTER
“Deposit interest rates have shown slight increases at commercial banks, but the rise is not significant, and net interest margins (NIMs) will have a lag of 3-6 months. Therefore, we expect NIMs to slightly decline in the fourth quarter. Listed banks will continue to show profit divergence. Some banks are projected to achieve pre-tax profit growth of 10-15 per cent this year. The banking stocks we consider promising include BIDV, VietinBank, MB Bank, LP Bank, Techcombank, OCB, and ACB,” stated the report.
MINISTRY OUTLINES TWO ECONOMIC GROWTH SCENARIOS FOR 2025
In the first scenario, the country’s gross domestic product (GDP) is predicted at 6.5-7 per cent, and inflation rate at 4-4.5 per cent, given the global situation staying complicated and unpredictable, the global economic growth remaining low, and the global macroeconomic environment facing numerous risks. As a result, the average economic expansion for the 2021-2025 period will be 5.8-6 per cent.
