Deutsche Bank expects Vietnam’s economic growth to accelerate in 2017

Deutsche Bank Senior Economist Ms. Juliana Lee said: “Vietnam is expected to post a stronger GDP growth of 6.4% in 2017, up from 6.2% in 2016, supported by a sustained recovery in agriculture and exports. We also see Vietnam remaining on the path of reform to improve its long-term growth potential.” 

Ms. Juliana Lee and Deutsche Bank Chief Country Officer

She said at a press meeting which held in HCMC on January 19.

“In case of significant progress in economic reforms, supported by foreign capital inflows, we could see the dong strengthen, in contrast to our expectation of its moderate depreciation against the US dollar. This also poses upside risks to our forecast of mid-6% growth,” Ms. Lee added.

State Owned Enterprise (SOE) reform will be critical for Vietnam’s fiscal health as it points to improved efficiency of public spending while proceeds from SOE equitization could be used to pay down the public debt. 

Lee also underlined the importance of bad debt resolution and improved credit risk management, to ensure the banking system stability, as rates rise in the medium term.

Overall, conditions continue to improve for business and investment in Vietnam, where Deutsche Bank provides trade finance, cash management and custodian services to corporate clients operating in Vietnam as well as corporate advisory. 

Deutsche Bank Chief Country Officer Mr. Jens Ruebbert said: “Last year we led a number of landmark transactions in Vietnam including the Initial Public Offering for budget airline VietJet, and the acquisition of retailer Big C Vietnam by Central Group and investment in Masan Consumer by Singha Asia. 

“This year Deutsche Bank is proud to celebrate its 25th anniversary in Vietnam, where we remain committed to delivering innovative financial solutions to our clients here,” Mr. Ruebbert added.

Deutsche Bank is a global investment bank with a well established geographic footprint across 15 countries in Asia Pacific. In Vietnam the bank provides a wide range of banking solutions to Vietnamese companies from corporate advisory, to trade finance, treasury solutions and custodian services.

By T.Quang

Other news

Most view

Shares recover after two-day decline

Shares recover after two-day decline

Vietnamese shares rebounded on the two exchanges on Wednesday as strong buying boosted almost all local stocks following the market’s two-day decline.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.

 

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

DIG issue 14 million shares

Development Investment Construction Joint Stock Corp (DIG)’s shareholders have approved its plan to issue 14.3 million shares in the second and third quarters of 2018.