Driven by the growth in exports, domestic demand, foreign investment, and the manufacturing sector, Vietnam’s GDP grew by 7.08 percent in 2018, the fastest in the last decade.
For 2019, the government has set a softer GDP target of 6.8 percent, which is achievable as domestic demand and foreign investments are predicted to continue their growth momentum in 2019.
In addition, the export industries will take advantage of the ongoing trade war and trade agreements such as the EU Vietnam FTA (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to expand their markets, which will further strengthen Vietnam’s position as one of the major manufacturing hubs in the region.
This is an exerpt from an article appearing on Vietnam Briefing. For the latest economic, regulatory and business news on Vietnam, visit vietnam-briefing.com.
