Richard Yetsenga, Chief Economist, Australia and New Zealand Banking Group (ANZ), offers a quick glance on the Vietnamese economic outlook, citing that the country’s growth, FDI and exports are strong.
“But will Vietnam become a victim of its own success? In the short term coming to the attention of the global trade recalcitrant is the main worry.
Strategically, Vietnam’s ongoing success will require a conscious policy focus on important issues including:
- the availability of power (in which environmental considerations feature heavily);
- ensuring the transfer of skills and expertise from foreign to domestic firms; and
- raising education and skill levels to support growth in wages.
With Vietnam’s demographic dividend already at its peak, structural reorientation is needed, or else maintaining growth through rising debt might just prove too tempting.”
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