VIET NAM TO ENTER TOP 20 FASTEST GROWING ECONOMIES GLOBALLY IN 2024

The development prospects of the Vietnamese economy in 2024 are very positive and driven by substantial foreign investment, especially in high-tech industries, according to Savills Viet Nam's report on investment in the Asia-Pacific region in the first quarter of 2024.

Specifically, the report points out that the Asian Development Bank (ADB), the International Monetary Fund (IMF) and the World Bank (WB) have forecast that Viet Nam's GDP growth this year will reach from 5.5-6.5 percent.

This growth will help Viet Nam become one of the fastest-growing economies in the world this year and on par with Macau, India and the Philippines.

By the end of the first quarter of this year, Viet Nam's GDP was estimated to increase by 5.66 percent over the same period, the highest growth pace since 2020.

Besides, data published by the General Statistics Office (GSO) shows that total registered foreign direct investment (FDI) as of May 20 reached more than US$11.07 billion, an increase of 2 percent over the same period.

Of these, there are 1,227 licensed projects with a registered capital of US$7.94 billion, an increase of 27.5 percent in the number of projects and 50.8 percent in registered capital over the same period.

Deputy Managing Director at Savills Viet Nam, Troy Griffiths, commented that Viet Nam's economic outlook in 2024 is very positive, which will help the country enter the top 20 fastest-growing economies globally.

The semiconductor industry in Viet Nam will attract significant investment this year. In particular, Viet Nam will benefit from the CHIPS and Science Act (USA), including a grant of US$500 million to improve training in semiconductors, cybersecurity and the business environment globally.

Regarding the resort real estate sector, Savills Viet Nam forecasts that the number of tourists from the Asia-Pacific region will return to 2019 levels by 2025. In particular, Viet Nam is becoming increasingly popular as an ideal destination for tourists from India.

This reflects the tourism industry's strong recovery and opens up new development opportunities for the resort real estate market in Viet Nam.

Additionally, strong demand from foreign manufacturing and information technology businesses will continue to support the operational efficiency of the offices in Ha Noi and Ho Chi Minh City.

Increased investment from international companies in these industries will increase demand for office space. At the same time, it creates favorable conditions for the expansion and sustainable development of the office real estate market in the two largest cities in Viet Nam.

Source: VCCI

Related News

CHARITY / EXHIBITION / OTHER EVENTS

INVESTMENT OPPORTUNITIES IN CA MAU PROVINCE: 96 PROJECTS AND 20 STRATEGIC PROJECTS

We are pleased to share with you information on investment projects currently seeking investors in Ca Mau Province. Should your esteemed company or association be interested, we kindly invite you to review the project information and complete the registration form via the links provided. The Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) will consolidate the expressions of interest and facilitate connections with the leadership of Ca Mau Province at a meeting tentatively scheduled for 13 November 2026 in Ho Chi Minh City.

Oct 16, 2026

MEMBER CORNER / PROMOTIONS

BẰNG KIỀU LIVESHOW - A SYMPHONY OF LOVE UNDER THE GOLDEN GLOW

A masterclass in live music that takes the audience on a soulful journey through immortal love songs, guided by the peerless artistry and emotive storytelling of renowned singer Bằng Kiều. The highlight of the night is his seamless musical chemistry with special guest Triệu Hồng Ngọc, promising passionate and deeply resonant duets inside the magnificent Grand Ballroom.

Oct 16, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

ĐÀ NẴNG GREEN-LIGHTS US$105 MILLION THAI DEVELOPMENT DEAL

The central city has approved an investment proposal by Thailand’s WHA Group to develop infrastructure for the 400ha WHA Đà Nẵng Industrial Park project on two communes of Thăng Bình and Đồng Dương, with an investment of more than VNĐ2.7 trillion (US$105 million). The city said it approved WHA Industrial Development International's status as an investor in the project, which is expected to take place between 2027 and 2034.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

MOBILE PHONE EXPORTS RISE 20% TO $51.8 BILLION IN FIRST NINE MONTHS

Exports of mobile phones and components rose 20 per cent year-on-year to nearly US$51.8 billion in the first nine months of 2026, with China, the US and Republic of Korea accounting for more than half of the total. Shipments to the three markets reached a combined $26.18 billion, or 50.6 per cent of total exports of the product group during the period, according to data from the Vietnam Department of Customs under the Ministry of Finance.

Oct 14, 2026

INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT

VIỆT NAM-CAMBODIA TRADE GATHERS PACE TOWARDS $20 BILLION TARGET

Trade between Việt Nam and Cambodia continues to grow, remaining a bright spot and a key pillar of bilateral cooperation as the two countries aim to raise two-way trade to US$20 billion in the coming years. After setting a record of more than $11.3 billion last year, bilateral trade reached about $8.7 billion in the first eight months of this year, up 8.3 per cent year on year.

Oct 14, 2026

VIETNAM ECONOMY INVESTMENT

FRUIT AND VEGETABLE EXPORTS POISED TO HIT $10 BILLION IN 2026

Fruit and vegetable exports are on track to reach nearly US$10 billion in 2026, after rising 19.9 per cent year on year to nearly US$7.4 billion in the first nine months, driven by strong seasonal demand and abundant tropical fruit supplies. The Ministry of Agriculture and Environment said the growth reflected stronger international demand for fresh produce and processed agricultural products.

Oct 14, 2026