World Bank: Vietnam’s growth among strongest in large developing ASEAN economies, reports Vietnam News, 11 June 2016.

An edited extract of the original article can be viewed below.

To view the World Bank’s original report, Global Economic Prospects: Divergences and Risks, June 2016, click here.

HÀ NỘI The World Bank (WB) on Tuesday forecast that Việt Nam would grow at an average of 6.3 per cent in 2016-18.

In the latest update of its Global Economic Prospects report, the WB predicted that Việt Nam’s growth in 2016 would be 6.2 per cent and then expand to 6.3 per cent in 2017 and 2018.

This trend stems from rising foreign direct investment, growing exports and solid labour markets, according to the WB.

The WB also forecast that among the large developing ASEAN economies, Việt Nam and the Philippines have the strongest growth prospects.

According to the report, State-owned enterprise (SOE) reforms in Việt Nam, which include improving transparency and governance, could reduce drains on fiscal resources.

Banking sector reforms would be priorities for improving efficiency and the allocation of capital in Việt Nam, according to the WB…

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