World Bank report identifies manufacturing, exports, and foreign investment as drivers of GDP growth into the future.
Vietnam’s GDP is expected to reach 6 per cent this year and will rise slightly in 2016 and 2017, by 6.2 per cent and 6.5 per cent, respectively, according to the World Bank’s Global Economic Prospects (GEP) report released this morning.
GDP will increase on the back of continued strong performance by the country’s manufacturing sector, exports, and foreign investment.
Regional growth, the report said, is expected to ease to 6.7 per cent this year and remain stable thereafter. This reflects the continued slowdown in China being offset by a pickup in the rest of the region.
Headwinds from tighter fiscal policy in Malaysia and Vietnam and macro-prudential regulation in China, Malaysia and Thailand are expected to be largely offset this year by the gradual recovery of investment and manufacturing exports associated with the global recovery and continuing lower financing costs.