The Vietnamese economy will gradually recover in 2015 with a GDP growth rate expected at 6.2 percent, economists said at the Vietnam Economy Scenario 2015 conference held on January 22 in Ho Chi Minh City.
“The economy will truly recover, albeit slowly, thanks to proper macroeconomic management, stable financial and monetary policies, low inflation, and active restructuring of state-owned enterprises,” said Tran Du Lich, member of the National Assembly’s Economic Committee.
However, he said, the recovery depended on three important conditions, namely economic stability, clear and transparent legal system, and business-friendly administration, which would help businesses predict the future, feel secure about investing and doing business, and improve their operation efficiency.
2015 would be a year of intensive integration with promising opportunities and real challenges, Lich said, adding that “Vietnam is amending its legal system in line with the ASEAN bloc and this will create favorable conditions for businesses to develop and integrate”.
Dominic Mellor, the Asian Development Bank’s country economist for Vietnam, warned that it would not be easy for Vietnam to integrate into the ASEAN Economic Community.
He explained that Vietnam faced the challenge of transitioning from central planning toward a more open economic model in which the private sector led growth and development.-