The knitted fabric factory of the Best Pacific Vietnam Co. Ltd, invested by Hong Kong (China), in the Vietnam-Singapore Industrial Park in Hai Duong province (Photo: VNA) Hanoi (VNA) – The Asian Development Bank has revised up its forecast of Vietnam's GDP growth for 2019 and 20202 from 6.8 percent to 6.9 percent and 6.7 percent to 6.8 percent, respectively, in contrary with projections for Asia. ADB Vietnam's chief economist Nguyen Minh Cuong affirmed in an interview granted to Vietnam News Agency that there are many reasons for ADB to believe in the growth potential of Vietnam. He said the forecast for Vietnam was based on the growth of domestic consumption, plus strong increases in export turnover and foreign investment in the past 11 months. Total foreign trade of Vietnam could reach 500 billion USD this year or even higher. The bank also noticed the remarkable improvement in Vietnam's business environment over the past years, along with the trend of foreign investment shifting from China to other markets, and in the context of the US-China trade dispute, Vietnam is really an attractive market for investors. Besides, Vietnam has made noteworthy improvement in competitiveness, which made it easy to understand why the… Read full this story
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