Vietnam’s economic growth quickened in the fourth quarter helped by rising industrial output and record-high foreign investment. Gross domestic product rose 7.01 percent in the fourth quarter from a year earlier, quickening from a revised 6.87 percent gain in the three months through September, according to data released by the General Statistics Office.
Exports rose 8.1 percent in the 12 months through December from a year earlier to $162.4 billion, with 71 percent coming from foreign companies. Meanwhile, imports climbed 12 percent from a year earlier for the same period. Retail sales gained 9.5 percent in Jan.- Dec. Industrial production jumped 9.8 percent in same period from year earlier. Manufacturing rose 10.6 percent in same period from year earlier. Disbursed foreign investment surged 17.4 percent to a record-high of $14.5 billion in Jan.-Dec. from a year earlier, and pledged foreign investment climbed 12.5 percent.
In 2015, the economy grew 6.68 percent, beating the government's 6.2 percent target. Vietnam’s economic growth “has gained momentum gradually and is now being supported both by exports of foreign-invested enterprises and domestic demand,” Jonathan Dunn, the International Monetary Fund’s resident representative in Vietnam said that. The country is also benefiting from cheaper energy costs as a low inflation rate aids domestic demand.
Vietnam's economic growth in 2015 may be the fastest among six major Southeast Asian countries tracked by the Asian Development Bank, the ADB said in a recent report.
While the government will focus on steps to bolster businesses, particularly the private sector, as part of its attempt to increase the country's productivity in 2016-2020, most of entrepreneur don't want to miss this chance to investment.
Exports rose 8.1 percent in the 12 months through December from a year earlier to $162.4 billion, with 71 percent coming from foreign companies. Meanwhile, imports climbed 12 percent from a year earlier for the same period. Retail sales gained 9.5 percent in Jan.- Dec. Industrial production jumped 9.8 percent in same period from year earlier. Manufacturing rose 10.6 percent in same period from year earlier. Disbursed foreign investment surged 17.4 percent to a record-high of $14.5 billion in Jan.-Dec. from a year earlier, and pledged foreign investment climbed 12.5 percent.
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Vietnam's economic growth in 2015 may be the fastest among six major Southeast Asian countries tracked by the Asian Development Bank, the ADB said in a recent report.
While the government will focus on steps to bolster businesses, particularly the private sector, as part of its attempt to increase the country's productivity in 2016-2020, most of entrepreneur don't want to miss this chance to investment.
