Vietnam among rising stars of global trade: Standard Chartered
(VOVWORLD) - Vietnam has been named one of the rising stars of global trade with the sixth position among the top 20 markets with the greatest potential for future trade growth, according to a recent report by Standard Chartered.
With this ranking, the country is also the best performer among the ASEAN nations, the Trade20 index, which examined 66 economies, shows.
Standard Chartered said Vietnam shows the strongest progress in trade growth potential of all the ASEAN markets in the report, driven by improvements to its trade readiness and economic dynamism.
The market’s improving strength in trade readiness is attributed to infrastructure enhancements and improvements to its ease of doing business score, while its economic dynamism is driven by healthy growth, particularly in terms of export volumes.
Standard Chartered said Vietnam’s growth is likely to continue to be driven by FDI-led manufacturing and export growth. Rising tourism inflows and stronger domestic demand, supported by higher wages, are also likely to sustain strong growth.