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Home > Business > Economy

Wenesday, 10/09/2014
11:29 AM (GMT+7)

Vietnam needs 9% growth to catch

up with regional economies

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NDO - Vietnam can be on par with regional economies such as the

Republic of Korea and Taiwan (China) if it records annual growth
of 9% over the next 20 years, the World Bank (WB) has said.

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Restructuring the banking system with an appropriate
roadmap

Trade surplus hits US$1.7 billion in eight months

Garment and textile export turnover reaches US$13.7
billion during Jan-Aug period

Ha Tinh urged to accelerate key projects

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Vietnam can escape the middle-income trap if it achieves faster growth in the next two
decades. (Credit: VGP)

WB Director Kwakwa vows loans to Vietnam until

2017

>> Vietnam aims for growth of 6.5-7% during 2016-2020

It added that Vietnam would fall into the middle-income trap if

growth only averaged around 5-6% per annum.

The Customs sector urged to strengthen smuggling

prevention

Ho Chi Minh City, Busan bolster all-embracing cooperation

The appraisal was made at a meeting on September 9 chaired by

Deputy Prime Minister Vu Duc Dam and WB East Asia and Pacific
Regional Vice President Axel van Trotsenburg in preparation for
the Vietnam 2030 Report.
The report, expected to be finalised by the end of 2015, will give
recommendations for Vietnams economic development in the
coming years.
The main questions to be discussed in the report are what
Vietnam should do to enhance the competitiveness of its
economy, achieve faster growth and sustainable development,
and to bring as many gains from development as possible to the
people.
The report will assess Vietnams development after nearly 30
years of economic reform, identify the opportunities and
challenges facing Vietnam and construct a development scenario
in the coming period.
The agreement to compile the Vietnam 2030 Report was reached
between Vietnamese Prime Minister Nguyen Tan Dung and WB
President Jim Yong Kim during his visit to Vietnam in July this
year.
By Nguyen Van Toan

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