Krungsri Research：2025年越南金融机构的机会：在宏观经济增长和金融风险中的适应报告（英文版）

Vietnam’s export-driven economy is increasingly vulnerable to escalating trade tensions. However, private consumption is playing an increasingly significant role in driving economic growth. Over the past 5 years (2020-2024), Vietnam recorded the highest average GDP growth rate in ASEAN, at 5.1%—outpacing Malaysia, Indonesia, Singapore, and Thailand (Figure 1). This growth has been largely driven by export sector, largely operated by foreign enterprises that established production bases in Vie