The Vietnamese economy is likely to grow at an annual average pace of 7% during the 2021-2015 period, according to a projection by the National Centre for Socio-economic Information and Forecast.
New-generation Free Trade Agreements (FTAs) are expected to help Vietnam become more competitive if the country reduces trading costs and improves its business environment, experts said at a conference in Ho Chi Minh City.
Southeast Asia’s GDP growth is likely to remain at 4.5 percent in 2020, amid high risks of a re-escalation in trade tensions between the US and China, according to the latest report produced by the British advisory firm Oxford Economics.
The Asian Development Bank (ADB) has revised up its growth forecasts for Vietnam from 6.8 percent to 6.9 percent for 2019 and from 6.7 percent to 6.8 percent for 2020 while trimming its predictions in developing Asia as growth in China and India is weighed down by both external and domestic factors.
The Asian Development Bank (ADB) has revised up its growth forecasts for Vietnam from 6.8 percent to 6.9 percent for 2019 and from 6.7 percent to 6.8 percent for 2020.
Vietnam’s economy has performed well in 2019, with GDP expanding by an estimated 6.8 percent, public debt reduced by nearly 8 percentage point of GDP since 2016, and a trade balance surplus for fourth year in a row, according to the World Bank (WB)’s report released on December 17.