Kim-Thanh Nguyen
Live life to the fullest!
Vietnam Economic Update — 03/2016
According to Dr. Nguyen Xuan Thanh, director of Fulbright Economics Teaching program
- Vietnam GDP growth 6.68% (2015) and is expected to rise to 6.8–7% (2016) & the goal is 6.7%
- China GDP growth 7.3% (2014), 6.9% (2015) which is its slowest pace in 25 years. It is expected to ease further to 6.8% or even 6.3% (2016) according to forecasts of its central bank
→ Vietnam can beat China on GDP growth for the first time since 1986?
- Many regional countries will be affected by these slowing Chinese economy, except Vietnam
- Vietnam recently signed many free trade pacts → take effect → great steps for further economic growth (if Vietnam knows how to take advantage of them) → attract foreign investment (direct & indirect)
- Trans-Pacific Partnership (TPP) agreement with the US and 10 other nations in the Pacific Rim
- Eurasian Economic Union Free trade agreement with the Russia-led union
- Trade Accords with Europe Union
- Trade Accords with South Korea (effect in 2018)
- Vietnam is believed to maintain its healthy economic growth for the next 5 years if it can improve consumer’s confidence & resolve business’s difficulties
- Banking system →recent restructuring ensure only short-term stable liquidity
- Forex management
- Real-estate
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