Vietnam

The 2025 Article IV Consultation with Vietnam discusses that growth accelerated in 2024 supported by a rebound in exports and accommodative policies. The export-led growth model, once successful, now faces significant challenges from a more adverse and uncertain global trade environment. To adapt, authorities are restructuring institutions, planning reforms, and increasing public investment to boost medium-term growth. Policies must be agile to manage the complex external landscape and elevated risks. Structural reforms, including policy framework upgrades, will enhance resilience and promote balanced, sustainable growth. Continued efforts to improve financial stability are essential, with a focus on building liquidity and capital buffers through enhanced prudential tools. Strengthening crisis preparedness and the resolution framework is also critical. Accelerating productivity and infrastructure reforms, alongside trade diversification, can reduce external vulnerabilities. Prioritizing economic governance and addressing data gaps will ensure the effectiveness and transparency of these initiatives.