Standard Chartered forecasts Vietnam’s GDP growth at 6.9%

The country’s growth is driven by strong construction and manufacturing sectors amid continued FDI inflows.

The report states that the country is moving upward, although global growth for the year will likely stay at 2.9%. 

Consumption should remain the biggest growth driver in 2016, closely followed by investment. However, net exports will likely remain flat. 

The bank’s economists are upbeat about Vietnam’s economy this year, and predict that the country will move on to become the 2nd fastest-growing country in Asia, after India.