Vietnam's economy forecast to grow 6.5%

Thursday, 2017-03-09 09:41:39
 Font Size:     |        Print

Image for illustration
 Font Size:     |  

NDO - Economists made comments on the outlook of Vietnam's economy in 2017 at a workshop held in Ho Chi Minh City on March 9 with an expected economic growth rate at 6-6.5%.

The Vietnam Economic Scenario 2017 workshop entitled "Business-Investment in a Changing World" has been held annually by the Vietnam Economic Times since 2008.

Former Deputy Director of the Central Institute for Economic Management (CIEM) Vo Tri Thanh gave an optimistic yet cautious forecast about the business environment in 2017, saying that enterprises should seize business opportunities.

He noted that the macro-economy is in a stable period and GDP continues to increase but Vietnam must pay attention to inflation and interest rates in 2017.

He also pointed out three issues that the Government should take notice of including a flexible and cautious macro-economy policy, the renewal cause and improvements to the business environment.

In addition, the Government should pay attention to a number of external factors that may affect Vietnam including the anticipated adoption of new protective trade policies of the US Government, the devaluation of the Chinese yuan and the Federal Reserve's increase of interest rates, among others.

CEO of Deloitte Vietnam Pham Van Thinh said that Vietnam will have to cope with many challenges in 2017 such as non-performing loans of the banking system and public debts which will affect the stability and sustainable growth of the economy.

However, Vietnam is expected to continue to maintain its economic growth rate at 6.5% this year, creating room for enterprises to grow.

VinaCapital CEO Don Lam said that 2017 is a great time for enterprises to do business in Vietnam and advised them to invest in the areas of technology and marketing to develop their trademarks.

Speaking at the workshop, Secretary of Ho Chi Minh City's Party Committee Dinh La Thang noted that Vietnam's economy is facing many "golden opportunities" to retain a high growth rate, adding that Ho Chi Minh City will promote improvements to the business environment along with supporting start-up enterprises in 2017.