Standard Chartered: 'Vietnam's economy will grow by 6.8 percent in 2018'

The forecast was made at Standard Chartered's annual global economic event held recently in HCMC. Nirukt Sapru, General Director of Standard Chartered Bank Vietnam and Group Five of ASEAN, South Asia, said that most macroeconomic indicators of Vietnam will be improved in 2017. Through that, the risk of market instability, increased competitiveness of Vietnam's exports compared to other economies in the region.

Vietnam economy is forecasted to grow by 6.8%.

In addition, he said, it also helps attract foreign direct investment (FDI) and builds public confidence in the management capacity and policies of the State Bank of Vietnam. "We believe Vietnam will continue to be one of Asia's fastest growing markets in 2018," he said.

According to Standard Chartered's latest macroeconomic report on Vietnam, the manufacturing sector is expected to double digit growth in 2018, with the support of FDI inflows and strong demand for the sector. Electronics globally.

Exports of electronics will also increase sharply in the short run, thereby creating a trade surplus and supporting growth overall. The bank forecasts that FDI inflows will continue to flow into Vietnam this year, reaching nearly US $ 15 billion, and FDI into production, especially electronics, will remain high in Mid-term.

The report also predicts that stable growth in the service sector will support the overall growth of the economy, with trade ahead of strong domestic activity. Services sector - which contributes nearly 40% to the economy, growing 7.45% in 2017, the highest level since the global economic crisis. The construction sector will continue to grow and grow at nearly 10% in 2018, after a slowdown in 2017.

Thanh Le - Vnexpress.net