Training high quality workforce Optimistic outlook In September 2018, the McKinsey Global Institute (MGI) presented its annual report on “Outperformers: High-growth emerging economies and the companies that propel them”, looking at the track record of 71 developing economies and their future prospects, pointing to 18 outperforming countries. Among the 18 outperformers are seven economies that grew more than 3.5 percent per year in terms of per capita gross domestic product (GDP) from 1965-2016, including China, Hong Kong (China), Indonesia, Malaysia, Singapore, the Republic of Korea (RoK), and Thailand. The remaining 11 economies, including Azerbaijan, Belarus, Cambodia, Ethiopia, India, Kazakhstan, Laos, Myanmar, Turkmenistan, Uzbekistan and Vietnam, recorded faster growth, about five percent per year, from 1996-2016. According to a PricewaterhouseCoopers (PwC) report updated in 2018, while it predicted two years ago that Vietnam would become the world’s 22nd largest economy by 2050, PwC forecast later last year that the country would become the world’s 20th biggest economy by the same year. PwC forecast that Vietnam, India and Bangladesh would become the fastest growing economies with an annual growth of five percent from now to 2050. The World Bank (WB) and the Asian Development Bank (ADB) all increased their 2018 growth forecasts… Read full this story
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