Econ
French press appreciates Vietnam's economy performance
An online versions of the French financial La Tribute and Les Echos Investir magazines wrote on December 28 that Vietnam has enjoyed strong economic growth in the past decade and become one of the most effective economies in Southeast Asia.
Vietnam achieved gross domestic product (GDP) growth of 6.81 percent, surpassing the Government’s target of 6.7 percent, they said. Key contributors to the economic expansion were agriculture and exports, with surges seen in shipments of Nike and Samsung products.
The articles noted that privatisation and capitalisation were important elements for the country’s growth. The French publications also noted the World Bank’s projection that Vietnam would have GDP growth of about 6.5 percent in 2018.
Vietnam's gross domestic product (GDP) growth in 2017 is estimated to expand by 6.81 percent, surpassing the Government’s set target of 6.7 percent. The country’s GDP grew quarterly, with 5.15 percent in Q1, 6.28 percent in Q2, 7.46 percent in Q3, and 7.65 percent in Q4.
The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level. The industrial and construction sector posted an 8 percent growth rate, contributing 2.77 percentage points whilst the service industry climbed by 7.44 percent, contributing 2.87 percentage points.
Vietnam’s socio-economic affairs 2017 took place in the context of steady recovery and growth of major economies such as China, the US, Japan, the Republic of Korea (RoK) and the European Union (EU). The World Bank has forecast the global GDP would stand at 3 percent, while the International Monetary Fund (IMF) anticipated a growth of 3.6 percent this year, he noted.
Global trade activities also witnessed improvements. In September 2017, the World Trade Organisation (WTO) increased its forecast for global trade in 2017 to 3.6 percent, higher than the previous level of 2.4 percent and much higher than the growth of 1.3 percent in 2016.
Vietnam continued focusing on economic restructuring to increase competitiveness, improve the business environment, and promote start-up movements.
In conclusion, French media appraises Vietnam as most effective economy in region.
Vietnam's gross domestic product (GDP) growth in 2017 is estimated to expand by 6.81 percent, surpassing the Government’s set target of 6.7 percent. The country’s GDP grew quarterly, with 5.15 percent in Q1, 6.28 percent in Q2, 7.46 percent in Q3, and 7.65 percent in Q4.
The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level. The industrial and construction sector posted an 8 percent growth rate, contributing 2.77 percentage points whilst the service industry climbed by 7.44 percent, contributing 2.87 percentage points.
Global trade activities also witnessed improvements. In September 2017, the World Trade Organisation (WTO) increased its forecast for global trade in 2017 to 3.6 percent, higher than the previous level of 2.4 percent and much higher than the growth of 1.3 percent in 2016.
Vietnam continued focusing on economic restructuring to increase competitiveness, improve the business environment, and promote start-up movements.
In conclusion, French media appraises Vietnam as most effective economy in region.
