By Patrick Chong
The global economic recovery has been better than expected. The forecast is for the world economy to grow low single digits for 2010 and 2011 . Although the rate of recovery differs from country to country, as a whole, there is a distinct trend that the recovery is much stronger compared to 2009.
Asia is leading the recovery among emerging and developing economies. Among the advanced and developed countries, United States is ahead of the pack that includes Europe and Japan. The laggards in the recovery are the emerging European economies and Commonwealth of Independent States.
The positive recovery coupled with low interest rates translates into millions of tenders that can be expected from institutions like the World Bank, International Monetary Fund and Asian Development Bank, to mention only a few. The two giant economies of China and India are expecting GDP growth of 9.6% and 8.8% respectively.
Vector expects the coming months will see increased tenders for major areas like infrastructure and construction tenders, information and communication technology and services tenders in financial and economic consultancy.
No comments:
Post a Comment