2017 is an important transitional year of the implementation of Vietnam’s 2016-2020 socio-economic development plan. However, the country’s GDP posted 5.1 percent in the first quarter, lower than the corresponding periods of the two previous years.
Being one of the big garment and textile firms, Hung Yen Garment Company is facing a host of challenges from both world economy’s impacts and domestic business environment.
Industry sector recorded 3.85 percent growth in the first quarter, the lowest level since 2011, attributing to diminishing the overall growth.
Experts say Vietnam should take a number of economic scenarios into account, given that world’s economies are projected to witness low growths in 2017, not including risks from financial market as well as protectionism.
During the process of economic restructuring, Vietnam has to suffer weaker growth in a short time before garnering a sustainable growth in the long run, experts say.-VNA
