Vietnam will be one of the fastest growing economies in Asia.

In December 2015, the ANZ-Roy Morgan Vietnam Consumer Confidence Index (CRI) increased to a record high, the highest in Asia. ANZ experts commented that the growth came from both foreign and domestic investors. With Vietnam’s long-term prospects, ANZ experts said that Vietnam will be one of the outstanding developing economies in Asia in the period of 2016-2017.

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In December 2015, the ANZ-Roy Morgan Vietnam Consumer Confidence Index (CRI) increased by 2.5 points to 144.8 points. This is a new record for the consumer confidence index in Vietnam and also the first time this index of Vietnam has reached the highest level in the Asian region.

This month’s Vietnam Consumer Confidence Index is now much higher than the average of this index over the past two years of 136.6 points and significantly higher (9.2 points) than the same period last year (the index in December 2014 was 135.6 points). Consumer confidence in December increased due to increased confidence in the economic outlook.economyVietnam in the next 12 months and 5 years.

In terms of personal finances, 35% (up 1% from November) of consumers said their family’s financial situation is “better” than it was a year ago, while 14% (up 3%) said their family’s financial situation is “worse.”

Additionally, 59% (up 3%) of consumers expect their family’s financial situation to be “better off” this time next year. In contrast, only 4% (up 1%) of consumers expect their family’s financial situation to be “worse off.”

In terms of the overall economic situation, 61% (up 6%) of consumers believe that Vietnam’s financial situation will be in “good shape” over the next 12 months. Meanwhile, only 9% (unchanged) of consumers predict that Vietnam’s financial situation will be in “bad shape”.

Looking at the long term, 66% (up 7%) of consumers expect that Vietnam’s economic situation will be in “good shape” in the next 5 years, while only 5% (up 1%) of Vietnamese consumers predict that the economic situation will be in “bad shape”.

Also, 45% (up 3%) of consumers said “now is a good time” to buy major household items compared to 10% (up 2%) of consumers who said “now is a bad time.”

“Vietnam’s economic performance has been driven by both foreign and domestic sentiment,” said Glenn Maguire, ANZ’s chief economist for Asia Pacific. “The survey’s key questions all show a significant improvement in sentiment since November, but the most encouraging results are in the questions about the overall economy and long-term financial outlook. This also gives us confidence that Vietnam will be one of the top performers in Asia in 2016-17.”

According to Investment