(VOVworld) - Standard Chartered Bank expects Vietnam’s GDP growth to accelerate to 6.9% in 2016 higher than its previous forecast of 6.6% driven by better construction activity and manufacturing strength amidst continued strength in FDI inflows.

According to the bank’s Global Research report released in Ho Chi Minh City on Wednesday, Vietnam will become the second fastest-growing economy in Asia in 2016, second only to India.

Marios Maratheftis, research team leader, said consumption and investment will likely continue to be the biggest growth driver this year. But net exports are likely to remain flat.

Nirukt Sapru, CEO of Standard Chartered Bank Vietnam, said with advantages over investment market, Vietnam expects strong FDI inflows in 2016.