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NEWS UPDATES 28 January 2010

EuroCham sees Vietnam’s economy to grow 6.5% in 2010

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Vietnam’s economy has grown by 5.32 percent in 2009 and it is likely to register a 6.5 percent growth this year, reported, quoting Matthias Duehn, Director of the European Chamber of Commerce, as saying in Hanoi Wednesday.

The projection was delivered at a discussion on global economic prospects 2010 held the same day by the World Bank in Vietnam.

Deuhn said EuroCham is confident that the greatest challenge for Vietnam at this point in time is to cautiously strike a balance between growth and inflation and to adopt sustainable solutions for the nation’s growth.

The WB meanwhile said in the report on global economic prospects that the world’s economic recovery will slow down as the end of the year approaches due to cutbacks in stimulus packages all over the world.

The global GDP will expand by 2.7 percent this year and 3.2 percent in 2011 whereas developing countries have a brighter development outlook with 5.2 percent and 5.8 percent respectively, said the bank.

Countries in the Asia-Pacific region will retain their leadership in the world’s recovery. However, developing countries, including Vietnam, will have to face higher lending interest rates and smaller credit, the bank cautioned.


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