Citi: Vietnam’s Economy Is Ready To Rebound
Jayson 06 Feb 2024 08:00
It is reported that Citibank Vietnam head Ramachandran AS said that Vietnam seemed to have overcome its biggest economic challenges last year and is now ready for recovery.
Citi's latest forecast is for Vietnam's GDP growth to be 5-6%, compared with the country's target of 6-6.5%, and inflation target of 4-4.5%, compared with the government's 3.5-4% target.
The biggest shock to Vietnam's economy has now passed and the country is ready to recover this year, Ramachandran told a forum on Friday.
Citi Vietnam economist Helmi Arman said the current supply chain shift will support Vietnam's exports and industrial production in 2024, with exports also expected to recover after falling about 5% last year.
Oman said external demand may remain weak due to slow global GDP growth, but Vietnam will continue to benefit from the supply chain restructuring process and its export capabilities are ready to expand.
Citi predicts that exports of apparel, footwear and electronics will continue to be the main drivers.
The bank said foreign direct investment inflows are likely to be abundant this year as Vietnam is expected to become a new global manufacturing hub.
Citi's latest forecast is for Vietnam's GDP growth to be 5-6%, compared with the country's target of 6-6.5%, and inflation target of 4-4.5%, compared with the government's 3.5-4% target.
The biggest shock to Vietnam's economy has now passed and the country is ready to recover this year, Ramachandran told a forum on Friday.
Citi Vietnam economist Helmi Arman said the current supply chain shift will support Vietnam's exports and industrial production in 2024, with exports also expected to recover after falling about 5% last year.
Oman said external demand may remain weak due to slow global GDP growth, but Vietnam will continue to benefit from the supply chain restructuring process and its export capabilities are ready to expand.
Citi predicts that exports of apparel, footwear and electronics will continue to be the main drivers.
The bank said foreign direct investment inflows are likely to be abundant this year as Vietnam is expected to become a new global manufacturing hub.
