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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Vietnam aims for stronger growth in 2015, diversified trade

Tuesday, June 17, 2014 > 09:08:33
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(Business Times)


[HANOI] Vietnam will strive to quicken its economic growth in 2015 to between 6.0-6.2 per cent by improving competitiveness, expanding trade and investment ties while avoiding reliance on any single market, the government said.
Prime Minister Nguyen Tan Dung said in a directive to government agencies issued late on Sunday that Vietnam aims to maintain macro-economic stability, speed up structural reforms and control inflation.



The government for the first time highlighted the need to "avoid relying on any single market". It did not name a particular country, but local economists and businesses have been vocal in calls for Vietnam to wean itself off of China, with which it shared US$50 billion of trade in 2013.



Growth of 6.0-6.2 per cent for 2015 is ambitious when compared with forecasts by international financial institutions. The ADB sees 5.8 per cent expansion in 2015, while the World Bank last week forecast 5.6 per cent growth for Vietnam, the same rate as Indonesia, Southeast Asia's biggest economy.

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