H1 GDP GROWTH SEEN HITTING TWO-DECADE HIGH

Nguyen Van Thang, Minister of Finance, speaks at a Government meeting on July 3 - PHOTO: VGP

HCMC – Vietnam’s economy is expected to expand at least 7.3% in the first half of this year, nearing the Government’s annual target and marking the highest six-month growth for the same period in nearly 20 years, according to the Ministry of Finance.

Early estimates in late May put second-quarter gross domestic product (GDP) growth at around 7.7%, bringing first-half growth to 7.3%. More recent data suggests the first-half figure could be adjusted upward by 0.2 to 0.3 percentage point, Nguyen Van Thang, Minister of Finance, was quoted by the Government news site (baochinhphu.vn) as speaking at a regular Government meeting on July 3.

Manufacturing output rose 10% in the first half, with the processing and manufacturing sector up 10.65% year-on-year in the second quarter. Exports increased 14.4% during the period, generating a trade surplus of US$7.63 billion.

Retail sales and consumer service revenue picked up 9.3% in the first half, while international tourist arrivals reached 10.7 million, up 20.7% from a year earlier.

From January to June, foreign direct investment pledges climbed 32.6% year-on-year to US$21.5 billion, the highest level since 2009. FDI disbursement rose 8.1% to US$11.7 billion.

About 152,700 enterprises entered or re-entered the market in H1, exceeding the 127,200 that exited the market. June saw a record 24,400 new business registrations with total registered capital of VND177 trillion.

The number of newly registered household businesses rocketed 118.4% over the same period last year, with 124,300 new registrations in the first half, up 118.4% year-on-year.

Despite optimistic projections, the Government warned of continued economic challenges ahead, including inflationary pressure and exchange rate risks. Minister Thang cited legal reform, export promotion, improved investment climate, and monetary stability as priorities for the third quarter.

Source: The Saigon Times

Related News

MEMBER CORNER / PROMOTIONS

KNIC ENGAGES WITH GOVERNMENT AND HIGH-TECH BUSINESS COMMUNITIES IN CHINA

From Beijing to Shandong, KN Holdings and KN Industrial City are continuing to expand their engagement with government authorities, trade promotion organizations, and high-tech business communities in China. In Beijing, the delegation met with the Center for International Economic and Technological Cooperation under the Ministry of Industry and Information Technology (MIIT), exchanging perspectives on industrial and technology cooperation between the two markets.

Sep 24, 2026

VIETNAM ECONOMY INVESTMENT

VIETNAM’S TRADE TOPS $825 BILLION BY MID-SEPTEMBER

Figures released on September 21 showed goods trade reached nearly $55 billion in the first 15 days of September alone, bringing cumulative turnover since the beginning of the year to more than $825 billion. The strong growth reflects robust trade flows, with demand for consumer goods and production inputs remaining high.

Sep 23, 2026

TECHNOLOGY

VIỆT NAM'S BUSINESSES MOVE TOWARDS AI AGENTS

Việt Nam’s AI landscape is entering a new phase as businesses move beyond generative AI (GenAI) tools designed to assist human users towards autonomous AI, agentic AI and AI agents that can take action with limited supervision, experts have said. The shift comes as Việt Nam seeks to accelerate science and technology, innovation and digital transformation under Politburo Resolution 57-NQ/TW, issued on December 22, 2024.

Sep 23, 2026

GARMENT / TEXTILE

VIỆT NAM TARGETS $48 BILLION IN TEXTILE-GARMENT EXPORTS

Việt Nam’s textile and garment industry is facing both opportunities and challenges amid complex and unpredictable developments in the global market, prompting businesses to improve growth quality, optimise production costs and enhance adaptability in pursuit of an export turnover of about $48 billion this year. The target is considered an important milestone that requires concerted efforts from management agencies and the business community.

Sep 23, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

CUTTING LOGISTICS COSTS KEY TO BOOSTING EXPORTS

Reducing costs has become an increasingly urgent priority for import-export activities, particularly logistics costs, a conference in Hà Nội was told on Tuesday. According to Deputy General Director of the Ministry of Industry and Trade's Agency for Foreign Trade, Trần Thanh Hải, import-export activities has remained a bright spot for the economy in recent years, playing an important role and helping drive macroeconomic growth.

Sep 23, 2026

LEGAL UPDATE / POLICY

FLEXIBLE FISCAL POLICY HELPS DRIVE ECONOMIC GROWTH

Việt Nam’s fiscal policy has been implemented in a targeted expansionary manner since early 2026, helping maintain macroeconomic stability and supporting the country’s goal of achieving double-digit economic growth. According to the Ministry of Finance, State budget revenue in the first eight months of 2026 was estimated at VNĐ2.02 quadrillion (US$77.7 billion), equivalent to 80 per cent of the annual estimate and up 16 per cent year-on-year.

Sep 23, 2026