Vietnamese economy set for sustained growth in 2018

ABO/NDO - The national economic growth will continue to be marked by positive trends this year thanks to improvements to institutions and the investment environment, according to a forecast by the National Centre for Socio-Economic Information and Forecast (NCIF).

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The record high of FDI disbursement along with a significant increase in newly established enterprises in 2017 will help to raise the demand for labourers in 2018, the NCIF says.

In addition, the FDI sector will benefit from many positive factors in 2018, including strong economic prospects, the anticipated flourish in production and business activities, and opportunities from international economic integration.

However, the NCIF forecast that the Vietnamese economy will face challenges this year which may have adverse effects on growth, trade, and investment.

The economy will continue to encounter challenges arising from geopolitical instability and the spreading trend of trade protectionism which could slow down exports, FDI attraction, and job creation.

The anticipated increase in world petrol prices and interest rates by the Federal Reserve System (FED) are also predicted to exert pressure on exchange rates and import-export activities.

The national economy will also face difficulties due to the decline of the mining sector, the increase of CPI, and the adjustments of a number of tax policies this year, among others.

(Source: NDO)