Vietnam's economy is estimated to have grown nearly 7.9% in the January to May period from a year earlier, a government minister said on Wednesday.
"Vietnam's economy in the first five months of 2007 continues its high growth, GDP is estimated to rise nearly 7.9% from the same period in 2006, the highest rate compared to many past years," Planning and Investment Minister Vo Hong Phuc said.
January to May's exports grew 18.4% from a year earlier to $18.12 billion and industrial output also expanded 16.8% during the five-month period, Phuc said in his opening remarks to the Vietnam Business Forum in Hanoi.
Foreign investment so far this year, including new pledges and increased funds for existing projects, rose 18.7% from a year earlier period to $4.37 billion, he said.
The government aimed "to speed economic growth, raising effectiveness, sustainability and quality of growth and the economy's competitiveness, striving for growth of 8.2% to 8.5%," Phuc said.
On Tuesday the World Bank estimated Vietnam's economic growth this year would reach between 8% and 8.5%, compared with 8.17% in 2006.
The half-day meeting, held before Vietnam donors convene on Friday to review the implementation of government commitments so far this year, is an annual dialogue between government officials and the business community over the investment environment.
Martin Rama, acting director of the World Bank in Vietnam, said Vietnam is now entering "the second generation of reform", which involves not only competition and opening up to the world but also dealing with complex issues in implementing WTO commitments.
Vietnam, which has one of the world's fastest growing economies, joined the World Trade Organisation in January.
Source: Reuters
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment