(VOVWORLD) - The recovery of exports and domestic spending will be the key drivers of Vietnam's expected GDP growth of 6.3% next year, according to Frederic Neumann, the chief economist of HSBC's Asian Economic Research Department HSBC’s forecast for Vietnam's economic growth this year is 5%, with a projected increase to 6.3% next year, the highest projection by an international organization.
Neumann said at a conference on business prospects in Hanoi on Monday that he believes Vietnam’s exports will see an increase next year as demand rebounds.
A second driving force for Vietnam's economy next year will be domestic spending, including consumption and government purchases, which are expected to rise.
HSBC also predicts that Vietnam's financial, service, and real estate sectors will recover after a challenging period, and that Vietnam's GDP will see a 6% increase in the fourth quarter and a 5% increase for the year.