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ASIA: Vietnam Government Raises Growth Target. 

ASIA
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  • Whilst the world agonizes about tariffs and their potential impact on their economy, the Vietnamese parliament raised is economic growth target to ‘at least’ 8% in 2025.
  • As Vietnam targets double digit growth from 2026 onwards today’s announcement is a meaningful revision of the prior 2025 target of 6.5%-7.0%.
  • Inflation is targeted at 4.5%-5.0%, an increase in the upper band by 0.5% with more monetary and fiscal policies to be announced.
  • Vietnam has stated publicly that it has ‘no intention of imposing measures that restrict trade with the US’ and that they intend to import more US agricultural products.
  • The parliament approved an $8bn railway connecting Haiphong to Lau Cai, running through Hanoi running some 400 kms.  The infrastructure will be financed from the state budget and the issuance of bonds.
  • The government announced the construction of the Ninh Thuan nuclear power plant, to be completed by 2030 alongside a significant overhaul of the government with thousands of jobs to go.
  • The Vietnamese government 10YR bond yield was at 3.13%, having increased 80bps over the last year. 
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  • Whilst the world agonizes about tariffs and their potential impact on their economy, the Vietnamese parliament raised is economic growth target to ‘at least’ 8% in 2025.
  • As Vietnam targets double digit growth from 2026 onwards today’s announcement is a meaningful revision of the prior 2025 target of 6.5%-7.0%.
  • Inflation is targeted at 4.5%-5.0%, an increase in the upper band by 0.5% with more monetary and fiscal policies to be announced.
  • Vietnam has stated publicly that it has ‘no intention of imposing measures that restrict trade with the US’ and that they intend to import more US agricultural products.
  • The parliament approved an $8bn railway connecting Haiphong to Lau Cai, running through Hanoi running some 400 kms.  The infrastructure will be financed from the state budget and the issuance of bonds.
  • The government announced the construction of the Ninh Thuan nuclear power plant, to be completed by 2030 alongside a significant overhaul of the government with thousands of jobs to go.
  • The Vietnamese government 10YR bond yield was at 3.13%, having increased 80bps over the last year.