Many economic experts are optimistic about Vietnam’s economic development as the first quarter of the year comes to an end and believe it will be a good year for businesses. According to Dr. Vu Viet Ngoan, Head of the Prime Minister’s Economic Advisory Group, investor confidence will continue to be consolidated, and while inflation will increase it will remain under control. 2018 is therefore set to be a more positive year than 2017, he said.

    During a seminar held by Vietnam Economic Times and the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City on March 20 to discuss breakthrough opportunities for economic growth, 46 per cent of those in attendance said they believe that Vietnam’s GDP will grow 6.5-7 per cent this year.

    Vietnam is actively promoting international integration and innovation, with the signing of 12 free trade agreements (FTAs) and negotiations over four others. The country joined ten other members in signing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Such progress contributes to promoting stronger economic integration and enhancing Vietnam’s competitiveness in the global market. The World Bank’s latest report stated the CPTPP would help increase Vietnam’s GDP by 1.1 per cent by 2030. 

    The country continued to be a lucrative destination for foreign investors in the opening quarter of the year, and the education and training sector is considered one of the most attractive. There were 390 foreign direct investment (FDI) projects in education with total registered capital of $761.8 million as at March 20, accounting for 0.23 per cent of total FDI. Our Cover Story this month analyzes the opportunities and challenges for FDI in Vietnam’s education sector. 

    VET annually organizes the Golden Dragon Awards (GDAs), to honor foreign-invested enterprises (FIEs) in Vietnam and recognize their outstanding achievements in production and business. The 17th Golden Dragon Awards will be held in April as Vietnam celebrates 30 years of FDI flowing into the country and is an opportunity for businesspeople, CEOs, and managers of FIEs to meet together and share their experience. On behalf of VET and our readers, I would like to congratulate the winning FIEs this year, who have worked hard to record outstanding business performance and have played an important role in the development of Vietnam’s economy.

    Congratulations to all!