Viet Nam’s economy looking upbeat early on
06/08/2010 - 99 Lượt xem
Economic experts have said that the Vietnamese economy would continue to grow at a high sustainable rate after registering GDP growth of 7.88 percent over the last five months.
The experts, from the Ministry of Planning and Investment, attributed solid performances from the industrial sector, the stock market and foreign investment as drivers for the forecasted GDP growth rate of between 8.2-8.5 percent being reached for 2007.
In a report the Ministry delivered to the Mid-term Meeting of Consultative Group in Quang Ninh province, it estimated industrial production value grew by 17 percent over the period.
The stock market was another area that the Ministry pointed to, saying that through the success of the market, the rate of capitalisation rose from 6.8 percent in 2005 to the current 20-30 percent enjoyed today.
Foreign investment pouring into the country was also up according to the Ministry, with an estimated additional 6.1 billion USD in foreign direct investment (FDI) being pumped into the country in the first six months, possibly bringing total FDI this year to a record 12 billion USD.
Highlighting the continued attractiveness of the Vietnamese market, the World Bank's updated report that also appears at the Consultative Group's Mid-term meeting, estimated that FDI into Viet Nam for 2007 doubled that of 2005.
Despite the level of optimism surrounding the report and key economic indicators, the Ministry of Planning and Investment and donors did warn however of challenges ahead in inflation control, exports, imports and the disbursement of capital in investment projects.
Source: VNAgency
