Viet Nam is one of the six emerging economies to achieve high economic growth rates which were forecast at 6.2% in 2016 and 6.3% in 2017. The Asian Development Bank (ADB) predicted that the Southeast Asian nation would maintain an economic growth rate at 6.7% in 2016 and 6.5% in 2017 thanks to increasing FDI attraction, recovered customer confidence index, and enforced FTAs towards creating a more transparent and open business environment.
The WTO reported that Viet Nam attained the fastest export-import growth rates among 20 leading trade economies in the world. Amidst global trade gloominess, the Southeast Asian nation still gained an export growth rate of 7.9% to US$162 billion in 2015. The country’s import turnover expanded 12.3% to US$166 billion last year.
International organizations regarded Viet Nam’s export goal of 10% as “ambitious” but “within reach” if the nation seizes FTA opportunities and boosts key export commodities like electronics, leather, garments and textiles. A survey of 1,584 FDI enterprises showed that Viet Nam is one of the most attractive investment destinations in the Southeast Asian region.
As much as 11% of FDI enterprises reported that they expanded business operation and recruited 62% of new employees. These figures showed the highest growth pace over the last five years. FDI enterprises hailed Viet Nam’s business environment with reasonable tax and less asset risks.
* By Hanoitimes