Economic growth is projected to slow to 6.5 per cent in 2025 and decelerate further in 2026 given the full year effect of the new US tariffs (announced in July) and unwinding of most of the one-off 2025 government stimulus, it noted.

There is room for greater fiscal support if economic growth slows down markedly, while space for monetary easing is limited. Allowing more flexibility in the exchange rate and strengthening the resilience of the financial sector will be important, the IMF said after recently concluding its Article IV consultation with the country.

Though Vietnam’s economy rebounded strongly in 2024 and early 2025, the outlook is constrained by high global uncertainty on trade and economic policies, the IMF said.
Growth may slow to 6.5 per cent in 2025 and lose pace in 2026, it noted.
Downside risks are high.
A further escalation in global trade tensions or a tightening of global financial conditions could weaken further exports and investment.

Implementation of the ambitious reform agenda and infrastructure improvements presents an opportunity to raise medium-term growth and reduce external vulnerabilities, it noted.

Inflation in the country accelerated somewhat in recent months, reaching 3.6 per cent year on year (YoY) in June, but remains below the target. The current account surplus reached a record 6.6 per cent of gross domestic product (GDP) in 2024.

Downside risks are high. A further escalation in global trade tensions or a tightening of global financial conditions could weaken further exports and investment.

Domestically, financial stress could re-emerge from tighter financial conditions and high corporate indebtedness, the IMF observed.

On the upside, successfully implementing infrastructure projects and structural reforms could significantly boost medium-term growth. If global trade tensions subside, the economic outlook would improve, it added.

Fibre2Fashion News Desk (DS)

The UK Government has launched a major 12-week consultation, running from September 04 to November 27, 2025, to overhaul the UK’s design protection framework and strengthen its £100 billion (~$135.08 billion) design sector.

The Intellectual Property Office is seeking views from independent creators, luxury brands, and other professionals. With around 80,000 businesses and nearly 2 million jobs, the sector is a critical driver of growth.

From the runways of London Fashion Week to British automotive engineering excellence, British design sets international trends and drives economic growth. Spanning everything from traditional craftsmanship to cutting-edge digital design, British creativity helps shape the world, Intellectual Property Office said in a release.

“From Mini to Burberry and the London Underground map, British design is renowned worldwide for its creativity and innovation. These reforms will help remove barriers and make it easier for designers of all shapes and sizes to protect their creations – cementing our position as one of the world’s leading destinations for design investment and innovation,” Feryal Clark MP, Minister for Intellectual Property said in a release.

The consultation addresses key challenges: a patchwork of overlapping rights causing confusion, abuse through dishonest filings, post-Brexit complications, and outdated rules failing to protect modern digital and AI-created designs.

Proposals include fighting design theft through enhanced search and examination powers, stronger bad faith provisions, and the rejection of filings that lack novelty.

Another focus is on streamlining processes by harmonising procedures, consolidating unregistered rights, providing clearer guidance, and introducing deferment provisions for up to 18 months. The proposals also aim to resolve Brexit-related issues by offering practical solutions for designs that lost automatic UK–EU protection.

In terms of enforcement and justice, a new small claims track within the Intellectual Property Enterprise Court is suggested to enable affordable resolution of design disputes. Finally, to modernise for digital innovation, the proposals recommend accepting CAD files and video evidence, updating definitions, and reviewing the scope of protection for AI-created designs.

“Design is at the heart of everything we do as a creative nation. However, protecting brilliant design ideas has become unnecessarily complex. If you’re a small business or start-up with an innovative idea, you shouldn’t need extensive legal expertise just to navigate the system. That’s why we’re consulting on simplifying our designs framework. We want to remove the barriers that hold back creators and make protection straightforward and accessible. Because when we get this right, we’re not just supporting individual designers – we’re building the foundation for the next wave of British innovation that will drive growth right across the country,” Chris Bryant MP, Minister for the Creative Industries, said.

Officials say these changes could deliver the most significant reform in decades, ensuring Britain’s designers are equipped to compete globally. Consultation responses will help shape final policy options for Ministers.

“The UK Fashion & Textile Association welcomes this consultation and is committed to working with the IPO to ensure robust design rights and effective protection mechanisms that support UK creatives and help build a world-class design rights framework,” Paul Alger MBE, international business director, UK Fashion and Textile Association, said.

“The British Retail Consortium welcomes the Government’s consultation on modernising the UK’s design protection system. Design is fundamental to retail success – from innovative packaging and store layouts to digital interfaces that enhance the customer experience,” noted Helen Dickinson OBE, CEO of the British Retail Consortium.

The Government has launched a 12-week consultation to modernise the UK’s design protection system, worth £100 billion (~$135.08 billion) annually and supporting 2 million jobs.
Proposals target design theft, simplify complex rights, resolve post-Brexit challenges, and strengthen digital and AI protections.
Running until November 27, 2025, the review invites input from designers and legal professionals.

Fibre2Fashion News Desk (HU)