A cargo ship sails on Saigon river in Ho Chi Minh city, Vietnam, Monday, April 28, 2025. (AP Photo/Hau Dinh)
Hanoi: Vietnam’s economy continued to show resilience and dynamism in the first four months of this year, maintaining its position among the world’s fastest-growing economies, despite heightened global uncertainty.
With decisive policy action, proactive diplomacy and strategic reform priorities, the country is now aiming for an ambitious gross domestic product (GDP) growth target of 8% or more this year – a goal lawmakers and experts believe is within reach, provided key breakthroughs are implemented effectively.
According to the Finance Ministry, Vietnam’s socio-economic performance in April and the first four months of this year was marked by solid gains in domestic consumption, trade and investment.
Total retail sales of consumer goods and services rose by 9.9% year-on-year to 2.28 quadrillion dong or about US$87.7bil, with tourism and hospitality revenues increasing sharply by 24.5% and 14.9%, respectively.
Total import-export turnover reached US$275.18bil, up 15% over the same period last year, contributing to a trade surplus of US$5.02bil.
Meanwhile, 47,881 Vietnamese workers went abroad under contract during this period, reinforcing the country’s labour-export resilience.
Social welfare programmes also advanced, with over 200,000 houses supported under national housing schemes and 78.3% of communes achieving new-style rural development standards.
These positive results came despite global headwinds – particularly the sudden announcement of reciprocal tariff measures by the United States, which has affected business sentiment and trade flows around the world.
Vietnam, however, responded swiftly and proactively.
The government held 11 high-level meetings to review negotiation strategies, and General Secretary To Lam engaged in direct dialogue with US President Donald Trump.
As a result, Vietnam was included in a group of six economies prioritised for bilateral discussions with the United States on tax policy.
These diplomatic efforts helped maintain investor confidence and macro-economic stability.
International institutions have issued upbeat growth forecasts for Vietnam this year, with the World Bank projecting 6.8%, ABN Amro Bank 6.6%, and the United Nations 6.5%. — Vietnam News/ANN
