Vietnam raises 2025 GDP growth target to 8% amid manufacturing boost By Investing.com

Investing.com -- Vietnam is FXCM foreign exchange futures trading competitionofficially increasing its gross domestic product (GDP) growth target for 2025 to a minimum of 8.0%, up from the previous goal of 6.5%-7.0%.

The decision is motivated by an enhancement in industrial manufacturing, according to Nguyen Chi Dung, Minister of Planning and Investment, who made the announcement on Wednesday.

The updated target arises as Vietnam, an economy heavily reliant on exports, faces potential risks from escalating global trade disputes. This includes new tariffs on its steel exports to the United States.

Dung also noted that Vietnam will encounter a blend of opportunities and challenges in the current year, with the challenges being more pronounced and potentially leaving substantial impacts on the economy.

In 2021, Vietnam's trade surplus with the U.S. reached a record high of over $123 billion, according to U.S. data. Vietnam recorded a growth rate of 7.1% last year, positioning it among the fastest-growing economies in Asia.

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