Economy gathers steam ahead of tariff challenges

More potential: Workers in a garment factory in Ho Chi Minh City. The ADB says more growth for Vietnam is possible with continuing institutional reform. — AFP

HANOI: Vietnam’s economy is forecast to grow at 6.6% and 6.5% this year and next year, respectively, following robust 7.1% growth last year, according to the Asian Development Bank (ADB)’s flagship annual economic publication.

While maintaining a positive outlook for Vietnam this year and next, the Asian Development Outlook April 2025 report, released on Wednesday, highlighted risks to the forecasts, which were finalised before the announcement of US tariff measures.