(VOVworld) – Vietnam’s economic growth will accelerate to 6.2% in 2016 and 6.5% in 2017, reaching an average growth of 6.7% in the 2017-2021 period, according to the Conference Board, a global research association based in New York.

Vietnam’s economy predicted to grow steadily

The Board said on Wednesday that Vietnam’s economy will not be greatly affected if US president-elect Donald Trump’s administration says “no” to the Trans-Pacific Partnership (TPP) agreement. Economist Ken Goldstein said implementation of TPP will create jobs and, at the same time, cause mass unemployment. He said the free trade trend will become popular in the next decade and governments need to adopt social policies assisting workers likely to lose jobs. Economist Jing Sima said Vietnam, in the short and medium term, could benefit from worsened trade relations between China and the US. She said Vietnam could become an alternative venue when investors leave China due to Donald Trump’s tightened economic policies with China. In the long run, all nations will be affected if the new US administration slows the pace of globalization.