Credit Suisse: Vietnam GDP growth to be 8.5% next year

Following the upturn in both Vietnam’s exports and domestic consumption, Switzerland’s Credit Suisse Bank has forecast that the country’s GDP will grow at 5.3 percent this year and 8.5 percent next year.

Kai Nargolwala, the Chief Executive Officer of Credit Suisse Asia Pacific, appreciated the Government’s efforts to stabilize cash and credit flows and ward off a recession and unemployment.

He also pledged to have long term investment strategies in Vietnam.

Vietnam’s GDP for the first nine months of the year increased by 4.59 percent compare with the same period last year.

According to figures announced by the Ministry of Planning and Investment, the biggest rise was recorded in the service sector with 5.91 percent, followed by industry and construction, at 4.48 percent and agriculture, forestry and fisheries, at 1.57 percent.

By N.Quan, translated by T.Huong

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