Lilypad: GM TNT. Great article on the 2017 outlook for Vietnam and Indonesia. Also the Philippine Peso appears to be a great currency investment opportunity
World Bank reaffirms bright outlook for Vietnam’s economy in 2017
JANUARY 12, 2017
But it has once again called for reforms to state-owned enterprises and fiscal consolidation for a more stable growth path.
The World Bank this week said that Vietnam’s economy would expand at an average of 6.3 percent in the next three years, with all categories of demand buoyed by strong foreign direct investment and manufacturing exports.
In its latest “Global Economic Prospects” report, the Washington-based lender said, like many other countries in the East Asia and Pacific region, Vietnam needs medium-term fiscal consolidation to rebuild the policy buffers.
The bank added that for Vietnam, as well as Thailand, reforms to state-owned enterprises, including measures that enhance transparency and governance, “could reduce pressure on fiscal resources.”
The Vietnamese economy expanded 6.21 percent last year, among the fastest in the world. That came even after the country was hit by several headwinds including a prolonged drought and a devastating coastal pollution disaster in the first half of the year.
“Vietnam is in a sweet spot right now,” Frederic Neumann, co-head of Asian economic research at HSBC Holdings Plc in Hong Kong was quoted by Bloomberg as saying. “Strong growth will persist in the next several years. It is continuing to gain market share in exports and even giving China a run for competitiveness.”
“Foreign companies continue to invest in Vietnam to take advantage of its highly competitive labor and low cost. The outlook is bright and it is one of the standout economies in Asia,” he told Bloomberg.
Full Post: https://www.vietnambreakingnews.com/2017/01/world-bank-reaffirms-bright-outlook-for-vietnams-economy-in-2017/