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December 27, 2008

Vietnam: Investment value drops to 39% of 2008 GDP
Investment in Vietnam hit 580 trillion dong ($34 billion) this year, representing 39 percent of the country's gross domestic product and down from 45 percent in 2007, as the pace of growth slowed, reported Reuters.

Total value of investment, one of four components making up a country's GDP, fell more than 10 percent from 2007 when taking into account inflation of around 20 percent, the Planning and Investment Ministry-run Dau Tu (Investment) newspaper reported on Friday.

Vietnam's economy grew 6.23 percent this year, well below its target and slowing from an expansion of 8.5 percent in 2007, while inflation hit 19.9 percent and the trade deficit widened 20.6 percent to $17 billion.

Adding investment, net exports, government spending and the consumption of good and services is one way of measuring the size of an economy.

Vietnam has projected total investment in 2009 to be steady and account for 39.5 percent of GDP, which the government targets to expand by 6.5 percent. The International Monetary Fund has forecast 2009 growth at 5 percent.

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