Standard Chartered forecasts 6.8 percent GDP growth for Vietnam
Standard Chartered Vietnam in Ho Chi Minh City on January 17 issued a global economic report, forecasting that Vietnam’s GDP will expand 6.8 percent in 2018.
Latest
| TIN LIÊN QUAN | |
 | Vietnamese economy warming |
| WB forecasts Vietnam's GDP growth at 6.7% this year |
Nirukt Sapru, the bank's CEO for Vietnam and ASEAN and South Asia Cluster Markets, said almost all macroeconomic indicators of Vietnam improved in 2017, helping the country minimise risks of market volatility and increase competitiveness in export in comparison with other ASEAN member nations.
Increasing attraction of foreign direct investment (FDI) and the State Bank of Vietnam’s management ability and policies have contributed to building the trust in the business community, the report said.
 |
| Illustrative image. (Photo: VNA) |
Vietnam’s manufacturing sector was predicted to reach a double-digit growth in 2018 thanks to FDI flows and increasing demand for electronics in global markets.
The bank also forecasted that Vietnam is likely to lure nearly 15 billion USD in FDI this year, mainly in term of electronic production.
The service sector will also be one of the main contributors to the nation’s GDP growth, it noted.
According to Chidu Narayanan, economist for Asia at Standard Chartered Bank, Vietnam is benefiting from joining free trade agreements (FTA) in the region and the world.
He said the young, well-educated workforce and low costs will also help Vietnam attract more FDI in the near future.
 | ADB helps improve lives in Vietnam’s northeastern provinces The Board of Directors of the Asia Development Bank (ADB) has approved a 150 million USD loan to improve economic connectivity and living standards in ... |
 | World Bank and Vietnam work to strengthen financial systems A new World Bank report, jointly launched on December 14 with the Ministry of Finance, will support the development of a sound financial reporting institutional ... |
 | Towards a more prosperous global economy In order to reinforce the three pillars-institutional connectivity, people-to-people connectivity, physical connectivity-with the role of APEC host 2017, Viet Nam has chaired meetings of the APEC ... |
(Source: VNA)
Multimedia
Infographics Photos Videos E magazine
