4Q24 Strategic Insight : Low cost cash flow amid slowing domestic consumption

Based on current growth momentum, we forecast Vietnam’s real GDP to grow by 7.10% in 4Q24, although Typhoon Yagi, according to authorities’ estimates, could dampen the economic growth with a cut of 0.22ppts in the last quarter of the year. Vietnam, as a key trading partner with large economies, benefited from lower interest rates in developed countries, driving demand for its export products and attracting both foreign direct and indirect investments. We expect the index to break the 1,300-pts level and move toward the price target of 1,400-1,450 pts in 2024 and 1H25.