Standard Chartered Raises Vietnam's 2026 GDP Growth Forecast to 9.5%

Standard Chartered has revised its Gross Domestic Product (GDP) growth forecast for Vietnam in 2026 upwards to 9.5%, from a previous estimate of 8.5%. This adjustment reflects growing confidence in the Southeast Asian nation's economic resilience and sustained expansion. According to data from the General Statistics Office, Vietnam's GDP expanded by 8.39% in the second quarter of the year, a slight increase from 8.14% in the same period last year. For the first six months of the year, the economy grew by 8.18%, surpassing the 7.63% recorded in the first half of 2025. This performance is attributed to broad-based contributions from both the supply and demand sides of the economy. At a recent meeting, the Prime Minister highlighted the crucial role of the business community as the vanguard of the economy, instrumental in driving growth, generating employment, and enhancing national competitiveness. The government's approach focuses on identifying and assisting businesses with outstanding growth potential, rather than implementing broad-based support policies. Infrastructure development continues to be a key driver. Major road projects are being accelerated around Long Thanh International Airport, forming a comprehensive transport network that complements expressways and ring roads linked to the country's largest airport. Key aviation infrastructure at the airport, including runways and aprons, is nearing completion. Experts emphasize the importance of an efficient data market to ensure data flows to sectors where it generates the greatest economic value, thereby improving overall economic efficiency. In the face of persistent geopolitical uncertainties, Vietnam must also strengthen exporters' capacity to meet international standards and optimize logistics networks to secure its position in markets like the Middle East. Vietnamese businesses are increasingly adopting circular economy practices to boost competitiveness, reduce emissions, and comply with stringent sustainability standards. Initiatives launched to address long-standing challenges in the agricultural sector aim to streamline certification, enhance traceability, and facilitate compliance with international norms. Turning commitments into actual capital flows that support the real economy through stronger policies and international cooperation remains a key focus. South Korean companies, for instance, are looking to build long-term partnerships with Vietnamese firms through various engagement channels. Shantanu Chakraborty, ADB Country Director for Vietnam, noted that while achieving strong growth in a single year is encouraging, maintaining both the pace and quality of growth over many years will be essential for Vietnam to achieve its goal of becoming a high-income country by 2045. Source: VietnamPlus English