Vietnam’s gross domestic product (GDP)growthis forecast to be robust in 2016 and 2017, possibly outperforming other countries in the region, according tointernational banks.
In a report released recently, ANZ expects Vietnam’s GDP to rise 6.9 percent in 2016 and 6.5 percent in 2017. “Yet we acknowledge the downside risks emanating from the contraction in agricultural output. Global expectations for rice output are not promising, weighing on agricultural exports,” the ANZ report said.
Early this week, the Asian Development Bank (ADB)’sgrowthforecast for Vietnam’s GDP was robust, with predictions of 6.7 percent in 2016 and 6.5 percent in 2017.Credit Suissealso said that Vietnam’s GDP would rise 6.3 percent in 2016, third fastest inemerging marketeconomies after China (6.6 percent) and India (7.8 percent).
Credit Suissesaid Vietnam’s growing popularity as a global manufacturing hub was one of the reasons for thegrowth. It also expects Vietnam’s exportgrowthto moderate slightly from 7.1 percent in 2015 to 6.9 percent in 2016 due to a recent slowdown in the US and China’s declining appetite forimportswhile foreigndirect investment(FDI) reaches 13 billion USD, down from 14.5 billion USD in 2015.
“The manufacturing sector, which accounts for 24 percent of Vietnam’s GDP, attracted 57 percent of the FDI inflows last year. The country stands to gain even more investment from the Tran-pacific Partnership, afree tradeagreement among 12 countries,”Credit Suissesaid.
Source: ktdt.vn – Anh Kiet
Keywords: Vietnam, GDP, set to grow, energeticly, in 2016, 2017
