Vietnam to Achieve GDP Growth Rate of 6.7 - 7 per cent This Year

The government of Vietnam on September 3 and 4 held a regular meeting, reaffirming that Vietnam will likely maintain the GDP growth rate at 6.7 per cent-7 per cent and curb inflation to 25 per cent this year.

The government will try to keep trade deficit at below $20 billion this year by reducing imports and expanding exports. Trade deficit was down to $900 million in Aug, and exports grew 39.1 per cent on year to $43.3 billion between Jan-Aug.

In the first eight months, Vietnam’s industrial production value rose 16.3 per cent to VND438.6 trillion ($26.58 billion). Meanwhile, the agricultural production sector posted a bumper crop with output soaring 13 per cent.

CPI in Aug soared only 1.56 per cent from last Dec, but up 38.32 per cent on year, according to the General Statistics Office.

The Asean country was pledged with $47.2 billion of FDI in the first eight months, however, only $7 billion was disbursed, up 32.1 per cent on year.

In mid-Aug, Citigroup predicted in a statement that Vietnam’s economy being driven by exports and industrial production will grow 6 per cent a year in 2008 and 2009. 

(Source: Vietnam Economic Times)