Most experts are optimistic, and even believe that our nation’s economy in 2018 will develop even better than the miraculous growth level in 2017.

Written by phuongthao
2018-04-09

 

In early of 2017, there have been many concerns that the possibility of GDP cannot reach the target growth of 6.7%, especially when witnessing GDP in the first quarter "went down" significantly compared to the same period in 2016. However, the upstream trend has become a reality as the economy suddenly grew strongly in the last quarter. What could explain the phenomenon that is causing so much surprise?

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From the general perspective, according to Associate Professor, PhD. Tran Hoang Ngan, member of the Advisory Group of the Prime Minister, the reason was caused by the efforts of the "Government of Action, Creation and Transparency". When the Government members go and listen to complaints and solve problems, suggestions in each localion, this is also the time that the administrative procedures are forced to become easier and more convenient. And the important point is that when the machine becomes transparent, it will also run faster and more efficiently.
PhD. Huynh The Du (Fulbright University Vietnam) also believes that this is a remarkable economic growth when the government knows to listen and gather many ideas.

In particular, the growth in 2017 is attributed to the contribution of important sectors such as In particular, the growth in 2017 is attributed to the contribution of important sectors such as agriculture (increasing by 2.9%, rising by 1.36% in 2016), industry and construction ( rising by 8%, in 2016, increasing by 7.57%), services (an increase of 7.44% in 2017, and 6.98% in 2016) ...
Difficulties in administrative procedures have been solved with the support of import and export activities. The surplus balance also helped to strengthen the value of the domestic currency.
The good economic indicators in people’s thought, the business community and international investors have not only stimulated investment in the whole society, but also led to the investment of foreign capital into Vietnam as we have seen. 

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The positive trend is driving the economy

According to PhD. Huynh The Du, this year, the world is not good and not bad too. Therefore, it is difficult for the world's economic fluctuations to have a significant impact on Vietnam. "Absolutely, the risks are always hidden and may be exploded, but with the current trend, the positive trend will be stronger than negative one in 2018," Mr. Du shared.
The economic expert - Vu Dinh Anh agreed with the point of view above, he also said that if external factors are eleminated, the internal macro environment of Vietnam is predicted to help GDP grow in 2018, and it will be even better than in 2017. Public debt tightening will also reduce the burden to the economy.
Although the target for GDP growth in 2018 is fairly conservative, the highest number is 6.7%, economic experts believe that basing on the current macro-economic base, GDP growth this year increases to 6.8% (forecasted by the National Financial Supervisory Commission).

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To achieve a GDP growth rate of 6.7% or more, according to Associate Professor. Tran Hoang Ngan, some "difficulties" need to be solved sooner. That is to handle the weak state corporations and enterprises; supporting the banking system to effectively implement Resolution No. 42 of the National Assembly on dealing with bad debts in order to reduce interest rates, reduce costs for enterprises; invest in infrastructure to clear up traffic jams that are increasing transport costs, frustrating foreign investors and tourists.
What do the perceptions from the outside show? It ranked the business environment of Vietnam increased by 14 levels, from 82th to 68th among 190 countries; Global Competitiveness Index at The World Economic Forum's (WEF) also places Vietnam from 60th to 55th level among 137 countries. These evaluations from international organizations are probably also convinced that the fact of Vietnam economy is getting better.

According to Vietnam online newspaper of the government

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