Vietnam is targeting economic growth of 6.8 percent in 2017, up slightly from 6.7 percent expected this year, the government said.
Vietnam’s economy grew 6.68 percent in 2015, the fastest pace since 2007, fuelled by manufacturing and record foreign investment. Vietnam and the Philippines were the only bright spots among the larger economies in Southeast Asia last year.
The forecast was released in a statement late on Thursday.
But annual economic growth slowed to an estimated 5.46 percent in the first quarter, the slowest expansion for any quarter since January-March 2014, due mainly to the worst drought in decades and slowing exports.
The World Bank has forecast Vietnam’s GDP will grow 6.2 percent this year and 6.3 percent in 2017, while the Asian Development Bank estimated growth in the Southeast Asian nation at 6.5 next year, slowing from a 6.7 percent growth expected this year.