Vietnam’s economy in 2014 - 2015: Recovery and towards a sustainable growth

Abstract

Vietnam’s economy still coped with difficulties in 2014. However, macroeconomic indicators met or even exceeded targets. The economy had highlights which were a relatively more stable macroeconomic environment and balances of major items. The Vietnamese economy showed signs of recovery in 2014, reflected by a GDP of 5.98% against the target of 5.8% and CPI rise of 4.09% from the earlier year.

 It is the economic growth and well-controlled inflation rate in 2014 facilitated the stability and recovery of the economy. Nevertheless, there remained some indicators that failed to achieve the target and congestion in the economic development.

The year 2015 plays animportant role in Vietnam’s economy because it is the last year of the 5- year socio-economic development plan. Only by stabilizing the macroeconomic environment, boosting manufacturing and trading activities, efficiently implementing the restructuring of the economy, changing growth model and a wide range of other tasks, successful global integration, and enhancing the competitiveness of the economy can Vietnam meet 2015’s economic development targets.