(VOVworld) – Vietnam’s Annual Economic Report 2016 themed “Forging new foundations for economic growth” was announced by the Vietnam Institute for Economic and Policy Research (VEPR) on Tuesday.

The report said Vietnam’s economy had recorded positive developments in the last 2 years, particularly in industrial production and real estate. According to the report, new generation free trade agreements such as the TPP and the Vietnam-EU FTA as well as the ASEAN Economic Community are creating favorable conditions for the private economic sector in Vietnam and the region. With an improved business environment and reduced tariffs, foreign investment is expected to rise significantly.