Shang Wu Bu Wang Zhan·2025-10-31 16:40Core Viewpoint - HSBC has raised its GDP growth forecast for Vietnam from 6.6% to 7.9% for this year, following a surprising third-quarter economic growth rate of 8.23%, the highest in Southeast Asia, which exceeded market expectations of 7.2% [1] Economic Growth Forecasts - HSBC's new forecast is the highest among international institutions and is close to Vietnam's own target of over 8% [1] - Other financial institutions, including the Asian Development Bank and UOB, have also revised their growth predictions for Vietnam to 6.7% and 7.5%, respectively [1] - The International Monetary Fund (IMF) and World Bank (WB) have projected Vietnam's growth rates at 6.5% and 6.6%, respectively [1] Trade Performance - Despite a slight decline in exports to the US from other ASEAN countries, Vietnam's trade has maintained double-digit growth [1] - The trade surplus in the third quarter doubled compared to the first half of the year, driven by increased surpluses with trade partners outside the US [1] Domestic Economic Conditions - Domestic conditions in Vietnam remain stable, with improvements in retail sales and tourism leading the recovery in ASEAN [1] - Large infrastructure projects have contributed to increased construction activity [1] - The report indicates potential for further growth if public investment spending accelerates [1]