DIGIVESTASI - Vietnam is currently one of the countries in Southeast Asia enjoying a surge in economic growth. Based on a report from Reuters, Vietnam recorded its highest economic growth in two years in the quarter ending to September 2024. The country's economy grew by 7.4% in the third quarter compared to the same period last year, surpassing the 6.93% growth in the previous quarter.

Factors driving this increase included strong exports and industrial production, as well as increased foreign investment, which successfully masked the impact of Asia's largest typhoon this year. Vietnam's gross domestic product (GDP) rose 7.4% on an annualized basis in the third quarter, surpassing a revised expansion of 7.09% in the second quarter, according to a Reuters report.

Vietnam has also further cemented its position as a regional manufacturing hub for multinational companies such as Samsung Electronics as well as Apple suppliers Foxconn and Luxshare. In addition, the country continues to attract a steady flow of foreign investment. “The global economy is stabilizing with increased trade in goods, easing inflationary pressures, improved financial conditions, and increased employment,” said Vietnam's statistics office. Data from September showed that exports rose 10.7% year-on-year, while industrial production jumped 10.8%. During the first nine months of the year, foreign investment inflows into Vietnam increased 8.9%, reaching a value of $17.3 billion.

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