Vietnam Macro Update in September 2025 and Key Information in October

Summary of key information:

• The global economy is showing difficulties; however, this is becoming a driving force for major countries to sit down at the negotiating table, and many important compromises are being proposed.
• China is entering the stage of preparation for its next Five-Year Plan, which is expected to create a turning point in the country’s economic and social transformation process.
• Vietnam’s economy continues to grow strongly and is likely to achieve the plans set at the beginning of the year; however, some higher targets that the Government has set for itself will face challenges.
• The stock market is rising in the context of somewhat declining liquidity, and foreign investors continue to withdraw capital despite positive news about the market’s upgrade.

The global economy as well as international financial markets seem to have adapted well to recent geopolitical developments. While economic and political events continued to occur intensively during the third quarter, the volatility indexes as well as market trends did not show major changes compared to the previous quarter. This may be because the world has already gone through four years of surprises during Mr. Trump’s first term, and another four years during Mr. Biden’s term to prepare for the shifts in the United States’ approach. However, there have appeared some concerns regarding recent developments, especially after the bankruptcies of several enterprises related to private credit, a market that lacks the supervision of regulatory authorities as well as the transparency that is usually seen in more traditional financial products.

(EN) GTJASVN_Macro Report_Vietnam Macro Updates_Oct 2025