HSBC CEO: In 18 months, Vietnam has implemented many important reforms

At the Vietnam New Economic Forum 2025, co-organized by the Central Committee for Policy and Strategy, the General Economic Department, the Institute for Policy and Strategy Research, the Vietnam Economic Science Association and the Vietnam Economic Magazine VnEconomy on the afternoon of October 2, General Director of HSBC Bank Vietnam Tim Evans gave an insightful speech with the theme "Igniting the desire to rise up".

The forum was attended by many experts and business representatives.

In his speech, Mr. Tim Evans emphasized the message: "The resilience of Vietnam's economy " will come from the private sector, which is increasingly asserting its role as a key growth driver.

Over the past decade, the world economy has been rocked by escalating geopolitical tensions, macroeconomic policy uncertainty, and slowing growth. In 2025, the global economy is forecast to grow by 2.6%, while inflation remains stubbornly high at around 3.2%.

According to Mr. Tim Evans, the recent move by the US Federal Reserve (Fed) to cut interest rates by 0.25 percentage points shows the tug-of-war between the goal of stabilizing growth and curbing inflation. However, consumption and the labor market are still bright spots supporting the global economy.

HSBC Vietnam General Director Tim Evans presented the speech "Igniting the desire to rise" at VNEF 2025.

Regarding the domestic economic picture, Mr. Tim Evans said that in that context, Vietnam has emerged as an attractive destination as investment capital flows shift strongly to more stable areas, with the goal of maintaining positive results and setting a growth target of up to 8% in 2025.

“In just the past 18 months, Vietnam has implemented many important reforms such as administrative unit arrangement; at the same time, many policy adjustments, including corporate income tax, value added tax - VAT and incentive packages for the digital and high-tech sectors. At the same time, the Government has identified a number of key growth pillars to create a solid foundation for the economy in the coming period,” said Mr. Tim Evans.

Vietnam's economic prospects are attracting great attention from investors, as the digital economy is forecast to contribute 30% of GDP, the Government aims to enter the Top 50 on the e-Government Development Index and expand its network with 20 Free Trade Agreements (FTAs) that have been signed, come into effect or are under negotiation and completion.

Besides, Vietnam has a favorable business environment, strengthening investors' confidence, along with advantages in high-quality human resources, increasingly improved infrastructure and an increasing trend of enterprises participating in the international capital market.

According to HSBC, 20% of Vietnamese enterprises that are HSBC customers have enough capacity and position to access international capital markets.

On October 8, FTSE Russell will announce its assessment of the possibility of upgrading Vietnam's stock market. If upgraded to Emerging Market status, Vietnam will have the opportunity to attract billions of dollars more through passive and active investment funds. At the same time, the establishment of an International Financial Center will also be a strong driving force for the economy in the coming period.

Source: https://baotintuc.vn/kinh-te/ceo-hsbc-trong-18-thang-viet-nam-da-thuc-hien-nhieu-cai-cach-quan-trong-20251002180153519.htm