Macro/ Strategy

GDP growth showed the economy strength

In the current challenging global economy, Vietnam’s economic growth in 9M2025 reached 7.85% YoY, only lower than the growth in 2022 in the period 2011-2025. To reach the growth target of 8% in 2025, GDP in Q4 would need to grow ~8.4% YoY, which is higher than the growth in Q2 (+8.19%) and Q3 (+8.23%).

Inflation remained stable

In the context of high economic growth and unfavorable movement in the USD/VND exchange rate during the year, the stable inflation over the months in 2025 was a great effort. In 9M2025, the headline CPI increased by 3.27% YoY. In September, the CPI increased by 3.38% YoY and 0.42% MoM.