Vietnam reported positive production and operating data through July with Moody’s Analytics raising its forecast of the country’s GDP growth to 8.5 percent, making it its highest growth projection in Asia-Pacific.
This comes as China to the nearby north has been showing further signs of an economic downturn.
Despite a slowdown in Vietnam’s exports in July, Moody’s was optimistic about the country’s economic outlook due to it being a significant beneficiary of China’s uncertain policies, a Moody’s report said on Aug. 15.
The report stated that the uncertainty of the Chinese Communist Party’s (CCP) policies had driven foreign investment to Vietnam and other Southeast Asian countries. Supported by sustained foreign investment inflows, Vietnam had also “rapid improvement in industrial production and export trade.”…