Vietnam targets 6% to 6.5% GDP growth in 2024

Manufacturing hub aims to recover from slowdown linked to graft, trade

20231109 vietnam garment

Vietnam, one of the world's top exporters of garments and textiles, will consider cutting interest rates and spending on public works to resuscitate the economy. (Photo by Lien Hoang)

LIEN HOANG, Nikkei staff writer

HO CHI MINH CITY -- Vietnam has set an economic growth target of 6% to 6.5% next year, aiming to revive the Southeast Asian manufacturing hub, which has faced plunging global demand for its exports and a corruption crackdown that has hurt the property and financial sectors.

Parliament approved the target on Thursday. The government plans to increase public spending in the coming year, including on transport and other infrastructure. It also expects a recovery in global trade.

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