Forbes: five engines guarantee Vietnam’s economic growth in 2017
The US magazine Forbes said Vietnam can meet its target of 6.7 percent GDP growth in 2017 thanks to five engines, including its resources and trade agreements with other nations.
Hanoi (VNA) – TheUS magazine Forbes said Vietnam can meet its target of 6.7 percent GDP growthin 2017 thanks to five engines, including its resources and trade agreementswith other nations.
The magazine cited OscarMussons, international business advisory associate with the DezanShira&Associates consultancy in Ho Chi Minh City, as saying that firstly,Vietnam keeps giving foreign companies reasons to invest thanks to its lowertariffs under the trade deals and clear rules on foreign investment.
In 2017, Vietnam willstart to “collect the fruits of having a more structured and competitivebusiness legislation, which is having an impact on attracting more FDI and alsohelping Vietnam become one of the major manufacturing hubs in the world,” hesaid.
Secondly, Vietnamese aregetting richer and spending more, the magazine said, noting that the country’s middleclass will double by 2020 to 33 million people. Wages are rising along with aboom in jobs linked to growth in export manufacturing.
Meanwhile, factory workis moving up in value from traditional industries. Electronics are replacingtraditional industries such as garments and shoes. High-tech’s share of totalexports from Vietnam reached 25 percent in 2015 from 5 percent in 2010 and keptgoing last year with no signs of abating now.
The fourth factor is privatebusiness, which is expanding, particularly in garment and textile and export-orientedproduction. A boom is seen in beer and startups in media, entertainment and online payments. Thelocalised venture capital funds also gave startups better access to funding.
Finally, Vietnam alreadytakes part in 16 free trade agreements (FTA), including those with economicpowerhouses such as China and Japan. The country is also on the list to join aChinese-championed Regional Comprehensive Economic Partnership trading groupthat would encompass 30 percent of the world’s GDP.
Statistics of the VietnamGeneral Statistics Office showed the national economy expanded around 6.21percent in 2016. The figure is expected to hit 6.7 percent in 2017. -VNA
Vietnam’s economy will continue the recovery trend with a GDP growth forecast at 7.1-7.3 percent in the fourth quarter of this year, according to the General Statistics Office.
Vietnam will achieve its 2017 goal of 6.7 percent growth in gross domestic product (GDP), higher than 6.21 percent in 2016, due to the efficiency of its reforms, say experts.
The State Bank of Vietnam (SBV) has set a credit growth target of 18 percent for this year and it pledged to continue measures to keep credit growth suitable to the country’s economic development.
The outcomes obtained last year were encouraging, giving favorable conditions for the country to enter a new stage of development with new opportunities, Party General Secretary Nguyen Phu Trong said.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
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.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
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.
Illustrative image (Photo: VNA) 
