World Bank: Vietnam has strong growth potential

by VTV07 October 2015 Last updated at 16:34 PM

(Photo credit: Vietnamnet)
(Photo credit: Vietnamnet)

VTV.vn - Vietnam, along with the Philippines, is said to have the most promising conditions for economic growth in the ASEAN region, according to the World Bank’s latest report.

The economy is said to be boosted by two driving forces: exports and domestic consumption. The worldwide decrease in fuel prices is benefiting the country, while the government’s efforts to reduce its debt is improving the fiscal deficit.

Despite the forecasted trade deficit, strong remittance inflow should ensure the balance of a payment surplus. The World Bank also suggests Vietnam quickly revise its regulations in order to attract more foreign investors. This analysis was announced in the bank’s 2015 East Asia Pacific Economic Update, released on October 5th.

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