Bloomberg: Vietnam is highlight among emerging economies

On January 19th, Bloomberg ran an article assessing prospects for the Vietnamese economy in 2016.

The business news agency stressed: “While the world’s largest emerging economies including Russia, Brazil and China falter, Vietnam’s steady economic growth at near 7 percent this year will make it among the fastest-growing markets in the world.”

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According to Bloomberg surveys, Vietnam’s economy is forecast to expand 6.7 percent this year, the same pace as in 2015.

“Rising domestic demand and booming foreign direct investment are helping the Southeast Asian nation counter global threats that sparked a wave of stock selling and currency depreciation this year,” it said.

Experts said that domestic demand is one of the driving forces for Vietnam’s economic development in 2016.

Eugenia Victorino, an economist at Australia & New Zealand Banking Group Ltd., said that 2016 will be another stellar year for Vietnam. She noted: “What could derail Vietnam’s fast growth story is if trade deficit widens due to much faster import growth from consumption-related items such as automobiles./.”

( Compiled by VNF )