Vietnam’s Gross Domestic Product (GDP) growth is likely to edge up to6.1 percent in 2015 and 6.2 percent in 2016, according to the AsianDevelopment Outlook (ADO) 2015 released by the Asian Development Bank(ADB).
Although Vietnam’s economic performance has slowlyimproved, a number of structural factors continue to limit its abilityto reach its full growth potential, said Tomoyuki Kimura, ADB CountryDirector for Vietnam at a press conference announcing the ADO in Hanoion March 24.
The report highlighted that priority should beplaced on strengthening the banking system and outlining a clearstrategy to tackle bad debts in short term.
In addition, Vietnamneeds to speed up divestment of state-owned enterprises and acceleratetheir equitisation process, according to the report, which also urgedthe local enterprises’ greater participation in global value chain toleverage the fullest growth potential.
Dominic Mellor,country economist for ADB Vietnam said that investment potential, thekey drive of Vietnamese GDP growth, is spurred by sliding inflationrate, growing credit rating and commodity exports.
He said thatVietnamese small and medium-sized enterprises (SMEs) are lack ofcapacity to integration into global value chains, adding that only 36percent of the enterprises take part in production network oriented toexports, and 21 percent of the SMEs join the global supplying chain.
According to the report, GDP growth in the 10 ASEANmember states is expected to stand at 4.9 percent in 2015 from 4.4percent in 2014. The figure is likely to go up to 5.3 percent in 2016,one year after the ASEAN Economic Community (AEC) is established.
A DB, based in Manila, is dedicated to reducing poverty inAsia-Pacific through inclusive economic growth, environmentallysustainable growth, and regional integration. Established in 1966, itnow has 67 members, with 48 from the region.-VNA
Although Vietnam’s economic performance has slowlyimproved, a number of structural factors continue to limit its abilityto reach its full growth potential, said Tomoyuki Kimura, ADB CountryDirector for Vietnam at a press conference announcing the ADO in Hanoion March 24.
The report highlighted that priority should beplaced on strengthening the banking system and outlining a clearstrategy to tackle bad debts in short term.
In addition, Vietnamneeds to speed up divestment of state-owned enterprises and acceleratetheir equitisation process, according to the report, which also urgedthe local enterprises’ greater participation in global value chain toleverage the fullest growth potential.
Dominic Mellor,country economist for ADB Vietnam said that investment potential, thekey drive of Vietnamese GDP growth, is spurred by sliding inflationrate, growing credit rating and commodity exports.
He said thatVietnamese small and medium-sized enterprises (SMEs) are lack ofcapacity to integration into global value chains, adding that only 36percent of the enterprises take part in production network oriented toexports, and 21 percent of the SMEs join the global supplying chain.
According to the report, GDP growth in the 10 ASEANmember states is expected to stand at 4.9 percent in 2015 from 4.4percent in 2014. The figure is likely to go up to 5.3 percent in 2016,one year after the ASEAN Economic Community (AEC) is established.
A DB, based in Manila, is dedicated to reducing poverty inAsia-Pacific through inclusive economic growth, environmentallysustainable growth, and regional integration. Established in 1966, itnow has 67 members, with 48 from the region.-VNA
