Enhancing the Accurate of Grey Prediction for GDP Growth Rate in Vietnam

Based on the grey theory, grey prediction models, which are GM (1, 1), have been adopted to predict the Vietnamese GDP growth rate index and modified GM (1, 1) using Fourier series called "FRMGM (1, 1)" for improving the accuracy of forecast model. A forecasting the growth rate of Vietnam GDP from 2013-2015 has also been conducted based on the previous data (from 2000 to 2012) to serve as a reference for government authority in formulating policies as well as orienting development in the future. All data source is collected from the website of the Asian Development Bank. Through simulation results, this study showed that the FRMGM (1, 1) is an excellent model in forecasting models using with average accuracy of predict is 92.72%. Hence, the FRMGM (1, 1) model is strongly suggested in forecasting the GDP growth rate in Vietnam.