It’s been a year where every step forward for Vietnam’s economy was met with a challenge, where recovery seemed just within reach but still not quite there. With investments trickling in against a backdrop of caution, Vietnam stands at a crossroads, its vibrant pulse of progress now tempered by the echoes of a global slowdown.

As storefronts struggle and industries brace for change, we peer into the crystal ball of Vietnam’s future. In today’s video, we will be exploring what lies ahead for Vietnam in 2024 and what you can anticipate from it. What sectors are still fighting the tide? What new policies could reshape the landscape? THIS IS VIETNAM OUTLOOK 2024!

Vietnam Economy

To really get what’s coming up for Vietnam in 2024, we need to rewind a bit. Here’s the deal with where things stood in 2023. Like many other countries dealing with the aftermath of the pandemic, Vietnam’s economy is bouncing back from the pandemic. The GDP grew by 5.05% in 2023, although that was a 3 point lower than 2022. With a total GDP of about $430 billion in 2023, the average income per person was around $4,284, up by $160 from the year before.

In 2023, Vietnam attracted $36.6 billion in FDI, nearing the pre-pandemic level of $38.02 billion in 2019. Investors from all over Asia, especially Singapore, Hong Kong, South Korea, China, Japan, and Taiwan are showing they believe in Vietnam by investing here. Export turnover showed signs of improvement, reaching $355.5 billion in exports, although it dropped compared to 2022, exceeding expectations with a growth rate of 5.1 %.

To learn details about Vietnam’s economy in 2024 from Lawyer Ken Duong‘s perspective and how foreign investors can prepare for it: