Standard Chartered projects higher growth for Vietnam (19/09)
06/08/2010 - 181 Lượt xem
Seeing WTO accession by the end of 2006 as "highly likely," the bank expects to see growth for Vietnam at 8.8% in 2007.
Vietnam is the second-fastest growing economy in Asia, closely following China's consistent and rapid economic expansion.
Joseph Tan, economist at the bank's Global Research team said that the figures fell in line with Government forecasts.
"Growth in 2007 and beyond for Vietnam will benefit greatly from lower tariffs and increased access to the world markets. I believe exports will be the engine for GDP growth in Vietnam," he said.
Positive about Vietnam's outlook for the future, he also forewarned of the risks inflation may pose to the economy. The bank sees Vietnam's inflation staying high at 7.7% in 2006, before rounding off in 2007.
Standard Chartered Bank opened its second branch in Vietnam in July and plans to set up a consumer bank based in Ho Chi Minh City by the end of this year.Source: Vietnam Agency
