Vietnam is an attractive destination for foreign investors thanks to its high, stable growth, large domestic market and young, well-educated human resources, underlined Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam at the annual meetings of the IMF and the World Bank Group (WB) held recently in the US. Media reports maintained this, adding, according to Medas, despite rising global geopolitical instability, Vietnam’s economy experienced a growth rate of 5.66 per cent in the first quarter of this year even as exports continues to see an upward trend, facilitating overall growth until the end of this year.
According to Paulo Medas, head of IMF team to Vietnam, despite rising geopolitical instability globally, Vietnam's economy experienced growth rate of 5.66 per cent in first quarter of this year.
To maintain its attractiveness, Vietnam should continue to improve business environment, promote innovation, develop infrastructure, etc, he added.
He forecasted that Vietnam’s economic growth is predicted to expand by nearly 6 per cent this year thanks to the recovery of domestic demand and the government’s support to fiscal policies.
However, Vietnam needs to have a flexible fiscal policy to cope with risks and ensure substantial growth, he noted.
The expert said that the country continues to receive a large volume of foreign direct investment (FDI) amidst the shifting of supply chains to Asia and Vietnam is one of the investment destinations for foreign investors.
Nevertheless, to maintain its attractiveness, Vietnam should continue to improve its business environment, streamline administrative procedures, develop infrastructure, especially for green energy development, and promote innovation, he added.
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