VIETNAM’S ECONOMY – OPTIMISTIC OUTLOOK IN 2016

White Book 2016 with Vietnam economic updates released by Vietnam Report showed Vietnam gaining an impressive recovery in 2015 and the business circle remains optimistic about 2016.

According to Vnexpress, despite the uncertainties in the world’s economy, Vietnam still could recover strongly thanks to the implementation of a series of policies to restructure the economy. Details are:

57.1 percent of enterprises said that their business performance went better in the first 10 months of 2015, while 32.1 percent said their business was stable. Only a small percentage of businesses said they still met difficulties.

As a consequence, following the growth trend in last year, the government of Vietnam targets high 6.7 percent GDP growth rate in 2016 and the inflation rate of below 5 percent. This also means the economy will continue growing, while the macro economy would be maintained and inflation would be low.

The state budget balancing and public debts are still topics of interest in 2016 and upcoming years. Regarding international trade, experts believe there won’t be big changes.

The White Book pointed out that Vietnamese businesses were optimistic about the effects of most of Vietnam’s TPP commitments on their production and business. 88 percent of businesses said the rules on antitrust and encouragement of healthy competition would have positive impact.

When asked about the advantages and disadvantages of Vietnamese businesses in the competition with the rivals from TPP countries, most polled businesses proved relatively confident in the potential and capabilities. Only a very small percentage of businesses said they were ‘weak’ in the competition.

The impressive achievements which were gained by the Vietnam economy has been recognized by international institutions.

Bloomberg, while highly appreciating Vietnam economy prospects, has predicted Vietnam would be the second fastest growing economy in 2016.

Forbes, in an article titled Vietnam: The Quiet Economic Success Story of Asia some days ago also praised the great economic achievements gained by Vietnam. In 1986, Vietnam’s annual income per capita was $100, while the figure is $2,000 now.

Source: Vnexpress.net