(VOVWORLD) -Standard Chartered Bank expects Vietnam to have a GDP growth of 6.7% in 2024 in which the first half will grow 6.2% and 6.9% in second half of the year, according to the bank’s recently published global research report “Vietnam – stronger but not easier”.
 Many international financial institutions are positive about Vietnam's economic growth in 2024.
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Tim Leelahaphan, Economist for Thailand and Vietnam at Standard Chartered, said Vietnam continues to offer a promising medium-term outlook, adding retail sales and industrial production have stayed robust despite the recent moderation. Exports and imports are starting to recover, though electronics-related trade remains tentative.
According to HSBC’s forecasts, Vietnam is on track for recovery, likely returning to growth of 6% this year. As FDI keeps boosting production capacity, Vietnam's manufacturing sector is showing signs of recovery, creating opportunities for exports, the report said. HSBC economists hope that as Vietnamese inflation will remain benign in 2024, at 3.4%, well below the new inflation target of 4 to 4.5%.
VinaCapital, a leading investment management firm headquartered in Vietnam, said that 2024 will be a stronger year for the Vietnamese economy, driven by the recovery of the manufacturing industry and improved consumer psychology. The decline in interest rates last year will also support the real estate market's recovery, similar to its support to the stock market.
Michael Kokalari, chief economist of VinaCapital, said Vietnam's GDP growth could rise to 6-6.5% in 2024.