ANZ has forecast an annual GDP growth of 6.5 percent for Vietnam in 2015and 2016, with the bank's economic experts saying the actual result maybe even better when taking into account the notable achievements of thefirst quarter.
Lao Dong newspaper quoted ANZ’s latestreport as saying that the GDP growth in the first three months of theyear, at 6.03 percent year-on-year, exceeded all previous forecasts,adding that increases in many indexes reflect a recovery in domesticdemand.
In the first quarter, the industrial sector saw athree-year high increase of 9 percent, while the consumer confidenceindex was higher than the average figure for 2014, and retails revenuesposted the highest increase seen in the past five years, at 12.8percent.
The report also noted a trade deficit, primarilydue to imports of machinery, equipment, components and spare parts forproduction. This suggests that growth in the manufacturing sector willmove towards higher exports.
Credit growth in the firstquarter rose 1.9 per cent year-on-year and the interbank interest ratealso rose, indicating recovery in domestic demand for financialleveraging and business expansions.
Foreign investment alsoresumed its flow, with 1.748 billion USD registered in March, thereport said, adding that FDI flow in production activities would helpboost export in the mid-term. It also urged more investment in domesticproduction capacity in the long run.-VNA
Lao Dong newspaper quoted ANZ’s latestreport as saying that the GDP growth in the first three months of theyear, at 6.03 percent year-on-year, exceeded all previous forecasts,adding that increases in many indexes reflect a recovery in domesticdemand.
In the first quarter, the industrial sector saw athree-year high increase of 9 percent, while the consumer confidenceindex was higher than the average figure for 2014, and retails revenuesposted the highest increase seen in the past five years, at 12.8percent.
The report also noted a trade deficit, primarilydue to imports of machinery, equipment, components and spare parts forproduction. This suggests that growth in the manufacturing sector willmove towards higher exports.
Credit growth in the firstquarter rose 1.9 per cent year-on-year and the interbank interest ratealso rose, indicating recovery in domestic demand for financialleveraging and business expansions.
Foreign investment alsoresumed its flow, with 1.748 billion USD registered in March, thereport said, adding that FDI flow in production activities would helpboost export in the mid-term. It also urged more investment in domesticproduction capacity in the long run.-VNA
