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Vietnam to be among top 20 economies by 2050, says PwC

Vietnam could be among the top 20 economies by 2050, projected PricewaterhouseCoopers (PwC) in a report on its perspectives on Vietnam.
Vietnam to be among top 20 economies by 2050, says PwC ảnh 1A view of Nhat Tan Bridge in Hanoi (Photo: VNA)

Da Nang (VNA) – Vietnam could be among the top 20 economies by 2050,projected PricewaterhouseCoopers (PwC) in a report on its perspectives onVietnam.

The report was released on the occasion of the APEC CEO Summit, which is takingplace in the central city of Da Nang on November 8-10 as part of the APEC 2017 EconomicLeaders’ Week.

According to the report, in the long term, PwC forecast that Vietnam will beamong the fastest growing economies in the world as its average real GDP growthreaches 5.1 percent per year.

These projections rest on Vietnam’s youthful population and rising middleclass, a cost-competitive and skilled workforce, and a predictable pro-investororientation, it said.

The report also showed that most CEOs in Vietnam (92 percent) are confident ingrowth for their business over the next 12 months.

A net of 62 percent of Vietnamese CEOs said they would increase investment in2018, above the APEC average of 50 percent.

Close to half of foreign investors (47 percent) plan to expand their investmentin the country in the next 12 months. Vietnam is among the top four economies, including China, Indonesia andthe US, where at least 40 percent of foreign CEOs intend to raise spending.

According to PwC, Vietnamese CEOs are more likely to expect new growth fromtrade agreements, with 38 percent of them expect an increase in revenueopportunities over the next year due to a new trade agreement compared with 27percent of all APEC CEOs.

A net of 86 percent of CEOs in Vietnam pin hope on their organisations’footprints will expand in the next three years compared to 63 percent of allAPEC CEOs.

Dinh Thi Quynh Van, PwC Vietnam General Director, said Vietnam’s investmentclimate has become much better than previous years thanks to improvements ininstitutions, competitiveness, human resources and market.

Through the annual surveys of PwC, including those on Vietnam, confidence inthe country’s development potential and business environment is very high.

“Facts and figures show that partners and investors in Vietnam are developing stronglyand more and more investors are now interested in the Vietnamese market,” shestressed.-VNA
VNA
#Vietnam's economy #top 20 economies #PricewaterhouseCoopers #PwC #APEC CEO Summit #APEC Economic Leaders’ Week #Vietnamese CEOs #updated Vietnam news #Vietnamplus #Vietnam News Agency
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