A big screen shows information of Vingroup's Vsmart phones, during the launch of Vsmart smartphones, at the Vincom Centre Landmark 81 in Ho Chi Minh on Dec 14 this year. (EPA-EFE)Vietnam's growth soared to more than 7% this year, its highest in a decade, helped by a surge in its manufacturing sector. But this year's growth surpassed the communist government's target of 6.7%, hitting 7.08%, according to figures released Thursday by the General Statistics Office in Hanoi. However, the World Bank predicted a slowdown over the next two years if Vietnam does not protect itself from escalating global trade tensions. "As an open economy, Vietnam needs to maintain a responsive monetary policy, exchange rate flexibility and low fiscal deficits to enhance its resilience against potential shocks," said Sebastian Eckardt, the bank's lead economist for Vietnam.

Source: Bangkok Post December 27, 2018 12:56 UTC