Photo: vef.vn

Overall economic picture in 2014 is brighter than previous years, provided economic restructuring is further accelerated, economist Vu Dinh Anh told the Voice of Vietnam (VOV).

The national economy grew at a rate of more than 5.4% in 2013. Excess inventory and bad debts were reduced.

Macroeconomic stabilisation and inflation control in 2013 will facilitate economic growth in 2014 and subsequent years, said the VOV.

Economic restructuring helps fuel investment growth. Economist Vu Dinh Anh also said building an equitable investment environment is absolutely crucial to attract investment flow.

He noted that foreign investors would like to see Vietnam integrating further in the world economy.

According to a recent study released by the Vietnam Chamber of Commerce and Industry (VCCI), Vietnamese and foreign investors have renewed confidence in the Vietnamese economy’s mid and long-term prospects.

60 percent of 500 leading Vietnamese businesses reported their 2013’s performances were better than a year earlier, and 80 percent have plans to expand operations in 2014.

Many major foreign business groups have similar expansion ambitions. The US fast food giant McDonald, for example, opened its first Ho Chi Minh City restaurant earlier this year.

Source: VNA