VN’s economy enters stable trajectory
14:53 | 25/01/2016

VGP - Wen Wei Po, a Hong Kong-based Chinese language newspaper on January 25 published an article saying that abundant domestic demands, robust foreign investment, and strong open market policies of the Government have laid a solid foundation for the Vietnamese economy to enter stable and fast growth trajectory.

Illustration photo

The article also forecast that Viet Nam would rise as a potential emerging economy and open development space.

When the world’s largest emerging economies such as Russia, Brazil and China falter, Viet Nam still maintains firm growth space.

ANZ economist expert Victorino said that Viet Nam will become of new emerging markets with highest economic growth rates in 2016.

Earlier, Bloomberg said in a recent article reported that with nearly 7% economic growth rate in 2015, Viet Nam will be among the fastest-growing markets in the world.

Rising domestic demand and foreign direct investment are helping the nation cope with global challenges such as stock sales and currency depreciation.

The article quoted international experts as saying that amidst the global economic recession, domestic demand was the decisive factors. Vietnamese people were more upbeat about the future. According to Bloomberg surveys, Viet Nam’s economy is expected to expand 6.7% in 2016, the same pace as in 2015.

The State Bank of Viet Nam’s current efforts to make the exchange rate more flexible have also contributed to strengthening macro-economic stability and easing pressure on reserves, according to the article.

Bloomberg also quoted economist Eugenia Victorino from Australia & New Zealand Banking Group Ltd. as saying that VietNam is positioned to have another stellar year in 2016.

However, the long-term outlook will depend on political changes in the next 12 months, the economist said.

He also forecasted that Viet Nam may become one of the fastest growing economies of the region and the world in 2016 and 2017,.

The economist also added that Viet Nam’s rising trade deficit could derail its longterm growth, due to much faster import growth from consumption-related items such as automobiles.

By Khanh Phuong  

 

  Reader opinion
 
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address  
  Title
 
  Content