Banking system Vietnam. A macroeconomic overview

Academic Paper from the year 2019 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,0, University of Portsmouth, language: English, abstract: This essay describes Vietnam''s banking system and provides an overview of its macroeconomic environment. Vietnam is one of the fastest growing countries in the world. In 1986, Vietnam shifted from a centrally planned to a market economy. This transformed Vietnam from one of the poorest into a lower middle-income country (World Bank, 2019). Today, it is the world’s ninth fastest growing economy with commitment to sustainable growth, strong foreign direct investment (FID) inflows and a strong manufacturing sector. Vietnam’s GDP growth projection for 2019 is 6.6 % (Focus Economics, 2019).