HCM City, Feb. 26 -- Vietnam is likely to secure high annual growth of 8%, or even double-digit rates after recording a 7% expansion last year, according to Suan Teck Kin, executive director of Global Economics and Markets Research at Singapore-based United Overseas Bank (UOB).

The National Assembly (NA)'s recent decision to raise Vietnam's GDP growth target to at least 8% in 2025 and double-digit rates in the 2026-2030 period shows a high level of consensus across the political system for the country's new development goals, despite many challenges facing the economy.

Suan Teck Kin said that achieving these targets will be a significant challenge. Among the risks, the US tariff policies could impact one of Vietnam's key growth drivers,...