Vietnam Macro Bulletin 3Q2025

Vietnam’s Economy in 2025: Growth Momentum Shaping a New Phase Key macroeconomic highlights of Vietnam in 2025: Vietnam concluded 2025 with an impressive GDP growth rate of 8.02% YoY, successfully meeting the National Assembly’s ambitious growth target. This marked the highest level of economic expansion in the past 15 years, excluding the exceptional post-pandemic rebound

Q3/2025 Corporate Bond Market: Record Early Buybacks Amid Cooling Issuance Corporate bond issuance in Q3/2025 totaled VND 156.1 trillion across 154 domestic deals and one international issuance by VPBank (USD 300 million), down 33% from Q2 but flat year-on-year. Activity cooled after a strong Q2 driven by major banks raising capital. Private placements still dominated

Vietnam’s Economy in Q3/2025: Strong Growth Supported by Low Interest Rates Vietnam’s GDP surged 8.23% YoY in Q3, bringing nine-month growth to 7.85%, the second-highest in 15 years, only behind the surge in 2022. Industrials and Construction (+8.69%) led the expansion, with Manufacturing (+9.92%) and Construction (+9.33%) posting robust gains. Services (+8.49%) and Agriculture (+3.83%)