HANOI: Vietnam’s economy accelerated more than expected in the third quarter on rising foreign investment and factory output, putting the nation in reach of the government’s ambitious double-digit growth goal for the year.
Gross domestic product rose 9.95% in the July-September period from a year earlier, according to data from the National Statistics Office in Hanoi on Saturday. That’s the fastest since the third quarter of 2022, and beat the 8.65% median estimate in a Bloomberg survey of eight economists and a revised figure of 8.81% for the second quarter.
One of Asia’s brightest growth stars, Vietnam’s government is targeting at least 10% expansion this year as it seeks to move up the value chain and reach high-income status by 2045. The data give the clearest indication yet that it is on course and that a massive infrastructure investment campaign is delivering the required results.
