The Vietnam Annual Economy Report 2015 was launched in Hanoi on May 28 during a workshop jointly held by the University of Economics and Business (UEB) under the Vietnam National University of Hanoi, the Vietnam Centre for Economic and Policy Research and the Australian Embassy in Vietnam.

Introduced for the first time in 2009, the report focuses on reviewing major economic events in the previous year, forecasting the economic outlook for the whole year and recommending suitable fiscal policies.

According to Associate Prof. Nguyen Hong Son, UEB Headmaster, this year the report will feature potential and challenges of integration.

Although Vietnam has seen initial achievements in international integration, it is necessary to evaluate the efficiency of the process and the losses it has caused, he said, adding that changes in institution and policy are needed for the Vietnamese economy to adapt.

Consisting of seven chapters and two appendices, the report provides an overall view on 2014’s economic situation, including the strong recovery of the US economy, the prolonged difficulty faced by the EU, the progress in negotiations for the Trans-Pacific Partnership and the decrease in Chinese economic growth.

The report also gives space to analyse instability behind the exchange rate, the macro security for Vietnam ’s banking system in 2015, the advantages and disadvantages of the TPP and the structure of the country’s rice market.

In its last chapter, the report gives an outlook of Vietnam ’s economy in 2015, a thorough forecast of the country’s economic development this year, and a series of recommendations for policies.

The report, over 400 pages long in Vietnamese, is expected to be released in July, while an English version is scheduled to make debut in September this year.-VNA