Standard Chartered forecasts Vietnam's GDP could reach 6.9%

According to Standard Chartered Bank's Global Research Report, Vietnam's GDP growth forecast for 2016 is 6.9%, higher than previous forecasts by many other organizations.

Photo is for illustration purposes only. (Photo: Danh Lam/VNA)

This forecast is based on two sectors that are growing well, manufacturing and construction, in the context of continued positive foreign direct investment (FDI) attraction.

At the announcement of this report organized by Standard Chartered Bank Vietnam on January 27 in Ho Chi Minh City, Standard Chartered economists shared their opinion that Vietnam's economic prospects are getting better and better even though global growth may be low at 2.9% in 2016.

Mr. Marios Maratheftis, Head of the Global Expert Group of Standard Chartered Bank, said that the sectors that will continue to contribute the most to Vietnam's economy in 2016 are consumption and investment... However, Vietnam's net export value is expected to not increase much this year.

Mr. Nirukt Sapru, General Director of Standard Chartered Bank Vietnam, said that in 2016, Vietnam could rise to become the second fastest growing economy in Asia, after India. Specifically, Vietnam has strengths in the investment environment and is an attractive investment destination and is expected to attract a lot of FDI capital in 2016.

In addition, Vietnam is considered one of the economies with many good investment opportunities in the context of the not-so-bright global economy. In particular, the State Bank of Vietnam has made decisions to adjust exchange rates flexibly and in accordance with market fluctuations, creating favorable conditions for economic development.

Highly appreciating the Standard Chartered Bank Global Research Report, Mr. Vu Quyet Ngoan, Chairman of the National Financial Supervisory Commission, commented that domestic economic growth (investment and consumption) continues to improve, but the level of improvement is not large because the internal shortcomings of the economy have not been completely overcome as well as the world economy still has many obstacles. Besides, the FDI sector continues to be the main contributor to Vietnam's economic growth./.

According to Vietnam+