Vietnam needs new growth drivers from public investment and private sector: ADB
(VOVWORLD) - Vietnam should create new growth momentum through stronger public investment and private sector participation, said Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) in Vietnam, in an interview with VOV on the current economic outlook.
 Shantanu Chakraborty, Country Director of the Asian Development Bank (ADB) in Vietnam. (Photo: Quang Thuong/VGP) |
According to the ADB, accelerating public investment, improving infrastructure, and boosting domestic consumption will be key to addressing challenges and strengthening Vietnam’s position in regional value chains.
Mr. Chakraborty said the ADB has raised its economic growth forecast for Vietnam in 2025 from 6.6% to 6.7% to reflect solid performance in the first half of the year. GDP grew 7.5% during the period, driven largely by robust trade and export activities ahead of the implementation of new US tariff measures in August. Manufacturing, tourism, and other service sectors show strong growth potential, he added.
Mr. Chakraborty said that in the short term Vietnam should prioritize public investment, maintain flexible fiscal policies, boost social spending to support vulnerable groups, and stimulate domestic demand to sustain momentum.