Vietnam a highlight for economic development: experts

Ahead of the New Year 2017, international experts have evaluated that Vietnam is a "bright spot" in the region and is increasingly becoming a "magnet" to attract private investment, especially in the field of production and consumption.

This good news came as P. Newman, a co-head of Asian economic research under HSBC Holdings PLC based in Hong Kong (China), said that with stable GDP growth and foreign direct investment disbursement estimated at a record high US$15.8 billion in 2016, Vietnam was in a favourable development period.

Currently, foreign companies continue to pour capital in Vietnam to take advantage of competitive labour and low costs. Vietnam is now considered one of the outstanding economies in Asia with bright prospects.

According to the World Bank (WB), despite a slight reduction in economic growth, Vietnam maintains a relatively high and stable growth rate, along with major balances guaranteed, inflation controlled at a low level and GDP growth in 2016 estimated at 6.21%.

This growth rate is still quite high, especially in the context of declining global trade and disasters causing a range of difficulties for the country. It proves success in management and administration from the Government.

These encouraging results mentioned are reasons to believe that the country would continue heading towards new successes in the coming year.

(Source: NDO)