Viet Nam’s GDP Growth Rate to Continue to Rise

Vietnamese GDP will reach 8.3% in 2007 and 8.5% in 2008 as the country continues reforms to its economy and pubic administrative system.(Photo: TK)

The Asian Development Bank (ADB) issued a report on March 27 outlining the prospects for development in Asia in 2007.

According to the report, the growth rate of the Vietnamese GDP will reach 8.3% in 2007 and 8.5% in 2008 as Viet Nam continues reforms to its economy and pubic administrative system.

The ADB lauded recent efforts to develop the stock market in Viet Nam, however, Mr. Ayumy Konishi, the ADB’s Country Director in Viet Nam, said that controlling that development will be a challenge while stock prices are soaring.

The ADB is afraid, he went on to say, that a sudden drop in the stock market together with an ever-increasing inflow of capital may place the Vietnamese economy in a state of shock.

By H.Y - Translated by Phuong Lan

Other news