NEWS

21 Jan

Deutsche Bank expects Vietnam’s economic growth to accelerate in 2017

Saturday, 21 January, 2017

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Ms. Juliana Lee and Deutsche Bank Chief Country Officer

Deutsche Bank Senior Economist Ms. Juliana Lee said: “Vietnam is expected to post a stronger GDP growth of 6.4% in 2017, up from 6.2% in 2016, supported by a sustained recovery in agriculture and exports. We also see Vietnam remaining on the path of reform to improve its long-term growth potential.”

She said at a press meeting which held in HCMC on January 19.

“In case of significant progress in economic reforms, supported by foreign capital inflows, we could see the dong strengthen, in contrast to our expectation of its moderate depreciation against the US dollar. This also poses upside risks to our forecast of mid-6% growth,” Ms. Lee added.

State Owned Enterprise (SOE) reform will be critical for Vietnam’s fiscal health as it points to improved efficiency of public spending while proceeds from SOE equitization could be used to pay down the public debt. 

Lee also underlined the importance of bad debt resolution and improved credit risk management, to ensure the banking system stability, as rates rise in the medium term.

Overall, conditions continue to improve for business and investment in Vietnam, where Deutsche Bank provides trade finance, cash management and custodian services to corporate clients operating in Vietnam as well as corporate advisory. 

Deutsche Bank Chief Country Officer Mr. Jens Ruebbert said: “Last year we led a number of landmark transactions in Vietnam including the Initial Public Offering for budget airline VietJet, and the acquisition of retailer Big C Vietnam by Central Group and investment in Masan Consumer by Singha Asia. 

“This year Deutsche Bank is proud to celebrate its 25th anniversary in Vietnam, where we remain committed to delivering innovative financial solutions to our clients here,” Mr. Ruebbert added.

Deutsche Bank is a global investment bank with a well established geographic footprint across 15 countries in Asia Pacific. In Vietnam the bank provides a wide range of banking solutions to Vietnamese companies from corporate advisory, to trade finance, treasury solutions and custodian services.

Source: http://sggpnews.org.vn/business/deutsche-bank-expects-vietnams-economic-growth-to-accelerate-in-2017-48072.html

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