6M26: A strong quarter amid turbulence

The second quarter of 2026 ended on a positive note despite a volatile external backdrop, with Vietnam’s real GDP expanding by 8.39% YoY. Growth was supported by resilient retail sales, robust industrial production and impressive FDI performance in both registered and disbursed capital. While geopolitical tensions briefly reignited concerns over global inflation, logistics costs and supply chain disruptions, inflation pressure eased as stress moderated. Nevertheless, unresolved conflict risks, potential trade balance pressure and the ability of domestic growth engines, especially public investment, to sustain momentum will remain key questions for the second half of 2026, particularly as Vietnam continues to pursue its double digit growth ambition.