HSBC upgrades VN’s economic growth forecast
09:55 | 06/10/2017

VGP - The Hong Kong and Shanghai Banking Corporation (HSBC) just raised Viet Nam’s growth forecast from 6.0% to 6.6% in 2017, according to its latest report.

HSBC believed the Vietnamese economy will continue to perform well and may expand 6.4% next year.

Earlier in July, HSBC released a report saying Viet Nam’s economy was likely to grow by only 6%, revising down its previous forecast of 6.4%.

The fresh adjustment was made following impressive GDP growth of 7.5% in the third quarter and 6.4% between January and September this year, making it feasible for the Vietnamese Government to realize its growth goal of 6.7%.

Statistics showed the third quarter’s growth was mainly buoyed by stable expansion of manufacturing and processing, exports and service sector.

According to Nikkei, Viet Nam's PMI rose from 51.8 in August to 53.3 in September 2017, putting Viet Nam at the top among its ASEAN peers. This signaled a solid monthly strengthening of business conditions, with the most noticeable rate of improvement since April 2017.

The total FDI inflows in Viet Nam reached a record number of $ 25.48 billion in the first nine months, up by 34.3% over the same period last year, indicating that Viet Nam remains a preferred choice for foreign investors with more positive economic outlook than some countries in the region./.

By Huong Giang

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