ADB revises up Vietnam’s growth forecast to 6.7 percent
The Asian Development Bank (ADB) has revised up Vietnam’s economic growth forecast to 6.7 percent for both 2017 and 2018, compared to previous forecasts of 6.3 percent and 6.5 percent, respectively.
Hanoi (VNA) – The Asian Development Bank(ADB) has revised up Vietnam’s economic growth forecast to 6.7 percent for both2017 and 2018, compared to previous forecasts of 6.3 percent and 6.5 percent,respectively.
The first three quarters of 2017 saw GDP grow by 6.4percent, up from 5.9 percent in the same period of last year, the bank said ina supplement to its Asian Development Outlook Update 2017 report released onDecember 13.
Vietnam’s agriculture recovered and grew 2.8 percent inthe first nine months of this year as drought eased in the Mekong Delta and theCentral Highlands. Industry and construction remained strong despite theweakening mining and oil subsector that fell by 8.1 percent in the first halfof the year.
The report also mentioned the robust growth of themanufacturing sector that expanded by 12.8 percent in the first three quartersof this year, the sector’s highest rate of growth since 2011. Manufacturinggrowth in the last quarter is likely to exceed growth in the first threequarters.
The services growth surged to 7.3 percent from 6.7percent in the corresponding period in 2016, thanks to buoyant tourism andstrong banking activity.-VNA
Vietnam’s economy continues to perform well despite several setbacks, said the Asian Development Bank (ADB) in its Asian Development Outlook Update (ADOU) 2017 report launched in Hanoi on September 26.
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The World Bank (WB) on December 11 released its report “Taking Stock- An Update on Vietnam’s Recent Economic Development”, forecasting the country’s GDP to grow at 6.7 percent this year.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Cat Lai Port in HCM City (Photo: VNA) 
