Viet Nam China jostled for the lead in economic growth

05/01/2017 04:14 | Hits: 31


The World Bank expects the high rate of economic growth in Viet Nam over the next three years to 7%, surpassing China, leading the Asian region, and that their economic growth rate is 6.5%.

The World Bank said that the economy in Viet Nam will be recorded in the first quarter of this year accounted for 5.1%, but analysts forecast agency "Bloomberg" more optimistic, expecting economic growth rate of 6.25%.

Meanwhile, analysts say that China's economy will grow in the first quarter of 2017 by 6.5%, which means that the growth rate in Viet Nam approached.

World Bank analysts that Viet Nam will surpass China thanks to investments in infrastructure, Hanoi has spent the past two years under a programme of development towards 5.7% of GDP, also plans to attract foreign investment in infrastructure projects worth 480 billion dollars between 2017 and 2020.

For comparison, the Viet Nam's neighbors such as Indonesia and the Philippines, spending about 3% of their GDP on infrastructure development, while Malaysia and Thailand spent 2% of natgmha.