Fitch: VN among fastest-growing economies in Asia-Pacific

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The information was released in a seminar on Viet Nam’s economics prospects amid macro challenges, which was co-organized by the Fitch Ratings and the Asset Magazine on June 11.

It also forecasts that Viet Nam will continue receiving large Foreign Direct Investment (FDI) inflows into the manufacturing sector, primarily in the electronics segment, given its low cost advantage and global supply-chain linkages. These positive trends should support steady economic expansion in the near-term, although the weaker external environment and Viet Nam’s high degree of trade dependence are likely to weigh somewhat on growth in 2019 and 2020. 

According to Fitch, Viet Nam’s gross general government debt had fallen to 50.5% of GDP by end-2018 from 53.4% in 2016, and the rating agency expects it to decline further to around 46%by 2020.

Fitch also reckons that Viet Nam’s economic growth may slightly decline from 7.1% n 2018 to 6.7% this year, which is still ranked in the target set by the National Assembly for 2019 (6.6-6.8%). 

Earlier, Standard Chartered predicts that Viet Nam will be listed among 7% economy growth till 2030. 

By Thuy Dung