Vietnam ranked 6th among fastest growing Asian economies in 2024

Illustrative image (Photo: VNA)

The US website finance.yahoo.com placed Vietnam 6th among the fastest growing economies in Asia in 2024 in its article published on April 4.

The article cited projections for Vietnam's real GDP growth to reach 5.8% and per capita GDP growth at 7.41%.

Vietnam found itself positioned behind the Macao Special Administrative Region (China) which claimed the top spot, followed by India, Cambodia, Bangladesh, and the Philippines. Within Southeast Asia, Indonesia followed Vietnam at 10th, Malaysia at 14th, Laos at 18th, and Thailand at 20th.

With a projected expansion of 4.5%, the Asian economies are expected to collectively contribute over 60% of the global economic growth this year.

However, the article highlighted the importance of effective risk management for sustained economic recovery. Key challenges facing the Asian economies include the ongoing real estate crisis in China, potential financial instability in debt-laden nations, inefficiencies within supply chains, and the escalating threat of rising transport costs./.