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Vietnam's economy thrives thanks to attracting sufficient FDI: S&P
Thu Minh 13:23, 2015/12/21
According to a recent report by the Standards & Poor (S&P) fund released that Vietnam`s economy has started to prosper while most other Asian countries’ economies have been developing slowly towards consumer-led growth.
The S&P said, 4 years ago, Vietnam’s economy faced with bad loans. However, at present, Vietnam has attracted sufficient foreign direct investments (FDI) capitals to promote exports in the context of sluggish demand and global prices decline.
The electronics exports have been rising at almost 33% per year in the past three years, making up 18-29% of the total exports. Meanwhile, garment-textile has stayed at about 20% of all exports Overall, FDI doubled from 2012 to 2014 in the comparison with the previous three years. Japan and the Republic of Korea each contributed about 22%, Singapore 16%, China and Hong Kong 13%, and ­China ’s Taiwan 7.5%.
 
Vietnam’s electronics exports have been rising at almost 33% per year in the past three years.
Vietnam’s electronics exports have been rising at almost 33% per year in the past three years.
Trade between Australia and Vietnam in 2014 increased by 35%, accounting for 5.7 billion USD, though its investment in Vietnam reached only a modest 1.2 billion AUD (0.7 billion USD).
The size of Vietnam’s workforce in the total population of 91 million is an important factor, S&P said, attributing the productivity to the provision of new-cutting edge equipment.
The World Bank (WB) predicted that the working-age population of Vietnam will increase by 2030, while China's working population will decline.
The Singapore-based business analysing agency IMA Asia said Vietnam is expected to benefit more than any of the other 11 members from the Trans-Pacific Partnership (TPP) agreement through lower import tariffs on its branded exports.
According to the IMA Asia, the economy of Vietnam is forecasted to grow 6.2% in 2015 and 6.4% in 2016. 
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