Vietnam targets GDP growth of 6.5-7% in 2025 and strives for 7-7.5%. In the long term, the Government is determined to achieve double-digit growth when bottlenecks are removed.
Deputy Minister of Planning and Investment Nguyen Duc Tam said that M&A activities will soon recover and develop strongly in the coming time - Photo: BTC
On the afternoon of November 27, at the Vietnam M&A Forum 2024 held in Ho Chi Minh City organized by Dau Tu newspaper, Mr. Nguyen Duc Tam - Deputy Minister of Planning and Investment - said that by the end of 2024, Vietnam could achieve a growth rate of 6.8-7%, creating an important foundation for the following year.
Accordingly, one of the important goals for 2025 is that Vietnam's economic growth can reach 6.5-7%, striving for 7-7.5% and is currently determined to achieve higher, double-digit growth.
Speaking more about this goal to domestic and foreign investors, Deputy Minister Nguyen Duc Tam said that this goal demonstrates Vietnam's determination in recovering and sustainably developing the socio-economy, although it is quite challenging to achieve.
In particular, in the context of the world and regional situation forecast to continue to be complicated and unpredictable in terms of global economic prospects. Along with that, major economies such as the US, China, and Europe are forecasted to face many difficulties and risks in terms of growth and macroeconomic stability.
The Ministry of Planning and Investment, as a strategic advisory body on macroeconomic management, will continue to research and propose to competent authorities to improve institutions, mechanisms and policies. It is expected that the draft Law on Public Investment (amended) and the Law on amending and supplementing a number of articles of the laws on investment, planning, bidding and PPP will be passed by the National Assembly in the next few days.
According to statistics from the Ministry of Planning and Investment, there are currently 65 real estate projects with an investment capital of 129,000 billion VND that are facing legal problems. If these projects are resolved, a huge amount of capital will be injected into the economy. Even in Ho Chi Minh City, there are currently thousands of projects facing legal problems. If the legal problems are resolved, investors will be attracted to participate.
"These bills have many new provisions, demonstrating a breakthrough in the thinking of law-making from management thinking to management and creation for development, from "pre-inspection" to "post-inspection". The draft laws have received attention thanks to their focus on immediately removing obstacles and bottlenecks, creating breakthroughs for development," Mr. Tam added.
To achieve the economic growth target, the National Assembly also proposed 12 groups of tasks and solutions for the 2025 socio-economic development plan, including drastic institutional removal and overcoming bottlenecks.
"When the proposed solutions are implemented drastically and effectively, the Vietnamese economy can make a breakthrough and accelerate to reach the finish line in 2025," Deputy Minister Tam believes.
Regarding the picture of the Vietnamese mergers and acquisitions (M&A) market in 2024, Mr. Nguyen Cong Ai - Deputy General Director of KPMG Vietnam - said that the domestic M&A market is declining following the global trend. Investors' tastes in the Vietnamese M&A market are quite diverse. Besides the "main dishes" such as real estate, consumer goods, industry, etc., new and attractive dishes from the IT, technology and finance industries have appeared.
"Among the top 5 countries participating in the market, this year for the first time, Japanese investors are absent and buyers from the Chinese market appear. Difficult geopolitical impacts will continue to lead the market next year," Mr. Ai commented.
Vietnam's M&A market in the first 9 months of 2024 reached a total transaction value of 3.2 billion USD, with more than 220 deals. The average deal value was 56.3 million USD and the highest deal value was 982 million USD.
88% of transaction value comes from real estate, consumer staples, and industrial sectors.
Source: https://tuoitre.vn/viet-nam-dang-huong-den-tang-truong-gdp-hai-con-so-20241127154844337.htm
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