Vietnam steps up renovation, integration
Vietnam has developed steadily during 30 years of renewal. Its current phase of development requires stronger reforms for international integration.
In 2015 Vietnam’s GDP growth was 6.68%, the highest in 15 years. Inflation was controlled, the macro-economy was stable, and the consumer price index fell 0.6%.
Industrial production growth was high, the quality of credit improved, bank interest rates were adjusted, the foreign exchange market was stable, export growth was maintained, and the foreign currency reserve increased significantly.
In 2015 Vietnam made significant progress in its external relations bilaterally and multilaterally. It accelerated international integration while prioritizing national interests to create a favorable environment for national construction and defense.
Vietnam established the ASEAN Community with other ASEAN members, signed an FTA with the Republic of Korea, and completed negotiations on the Trans-pacific Partnership and a free trade agreement with the Eurasian Economic Union.
 |
This year it will continue to boost production, expand its export market, attract more foreign direct investment, and create new jobs. Vietnam’s international integration aims to achieve rapid but sustainable growth.
Directions set by the 12th National Party Congress and the FTAs Vietnam has signed or is negotiating are expected to spur Vietnam’s economic development.
2016 is the first year of Vietnam’s 5-year socio-economic development plan until 2021, which is focused on changing the growth model and joining the global production chain.
