Vietnam’s economy maintained growth across sectors, especially tourism, in the first eight months of 2019 despite global economic challenges and escalating trade tensions, Prime Minister Nguyen Xuan Phuc said at a cabinet meeting in Hanoi on September 4.
Vietnam reaped notable achievements in 2018, with economic growth hitting a record high of 7.08%, putting Vietnam on the list of Asia’s fastest-growing economies. New economic dynamics are expected to drive Vietnam forward in 2019 and help it achieve its 5-year plan targets by 2020.
With certain advantages, Vietnam has been the destination for many multinational businesses to seek processors, and processing in turn have become a major growth engine of the economy.
Over the first nine months of 2018, Vietnam’s economy continued to exhibit positive signs with a growth rate of 6.98% over the same period last year, according to a recent report from Colliers International in Vietnam.
Vietnam’s economy is seeing positive growth signs, according to a government report presented at the ongoing session of the National Assembly.
The likely gross domestic product (GDP) growth rate of 6.8% and improved business climate are among the highlights of Vietnam’s economy in 2018, experts said.