Vietnam’s economy to grow 6.5% in 2017: ADB
PSNews-The Asian Development Bank (ADB) held a conference to discuss the economic development situations of Vietnam and Asia in 2017.
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| Manufacturing has been making great contribution to Vietnam's economic growth |
As revealed by the 2017 Asian Development Outlook, Vietnam’s economy is expected to grow 6.5% in 2017 and 6.7% in the following year, thanks to sharp hikes in manufacturing, construction, trade (both retail and wholesale), banking and tourism, said Aaron Batten, ADB’s economist.
According to the report, the attraction of foreign direct investment will create a driving force for the domestic manufacturing industry and exports even though global and regional trade flows may decline.
Vietnam's middle class population is projected to double, reaching 33 million by 2030, contributing to boosting private consumption and retail trade.
The dramatic transformation of agriculture will serve as a key factor for economic growth, and allow Vietnam to reach a high-middle-income status.
