Gdp

Taking into account the size of the Vietnamese economy, a large proportion of the state budget allocated for infrastructure development would affect the balance of payment and the economy.

The Vietnamese government would continue to promote and ensure the long-term development of the foreign-invested sector, allowing it to compete fair and square with other economic sectors.

HSBC expected Vietnam’s economic outlook to remain positive and GDP to grow 6.6% in 2020.

Total capital expenditure in the 2016 – 2020 period would exceed the target of VND2,000 trillion (US$86.45 billion), accounting for 27 – 28% of total spending.

It is no doubt that 2019 was another successful year for Vietnam’s economy, putting the country in a favorable condition to achieve all socio-economic targets set for the 2016 – 2020 period.

Vietnam’s economic growth continues to be driven by the resilient foreign sector and robust domestic consumption.

There has also been a positive shift in the GRDP structure, with a higher proportion in services, industry and construction sectors, and a lower contribution from the agro-forestry-fishery sector.

A strong business community is an essential component of a prosperous country, said Prime Minister Nguyen Xuan Phuc.

The World Bank has revised up its growth forecast for Vietnam from 6.5% to 6.8% in 2019.