(VOVworld) - Vietnam’s GDP is expected to stay between 6% and 7% from 2016 to 2018 according to the latest report from the Institute of Chartered Accountants in England and Wales ICAEW.
Titled “Economic Insight: South East Asia”, the survey attributes the growth to improvements in trade access, which has compensated for slowdowns with some key trade partners. Vietnam’s economy has also diversified with growth in non-textile industries. Vietnam remains the bright spark in the ASEAN economy with growth accelerating to 6.7% in 2015 as foreign direct investment (FDI) reached record levels and export growth stayed strong despite low commodity prices. Based on the prediction, the survey says Vietnam’s economy will continue to roar ahead in the coming years while the rest of ASEAN with the exception of Malaysia will experience moderate recovery. In 2016, among six major ASEAN economies, Vietnam, the Philippines and Indonesia are expected to have the best growth prospects of 6.3%, 6.1% and 5.1%, respectively, it says.