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forecast for 2010 from 6.5 percent to 6.7 percent while lowering the
inflation projection to 8.5 percent.
In its Asian Development Outlook 2010 Update (ADO Update) released in
Hanoi on Sept. 28, ADB also revised upward Vietnam’s GDP growth to 7
percent in 2011 from its April forecast of 6.8 percent.
“ Vietnam has consolidated its macroeconomic stability, and as a
result we are making upward adjustments in our growth forecast for both
2010 and 2011, while lowering the projections for inflation,” said Ayumi
Konishi, ADB Country Director for Vietnam .
According to ADB Senior Expert Lei Lei Song, Vietnam is performing well in the context of the global crisis.
“The shift from strong fiscal and monetary stimulus implemented during
the global recession to a more balanced policy stance helped to
stabilise financial and economic conditions and, together with the
global economic recovery, paved the way for solid economic growth this
year,” he said.
According to the General Statistics
Office, Vietnam ’s GDP growth rate reached 6.5 percent in the first
nine months of 2010.
Vietnam ’s neighbouring
economies, such as China , continue their robust growth next year,
which will help Vietnam ’s economy grow, Song added.
China ’s robust growth will demand more Vietnamese exports,
contributing to the Southeast Asian country’s growth, he said.
Vietnam ’s exports to China will continue to surge in the future, according to the senior expert.
Director
Konishi said as Vietnam is a low-middle-income country in the next
ten years, the country will have to face different challenges, including
how to raise the efficiency of the economy.
One of
the issues Vietnam should focus on in its economic development
strategy for the next 10 years is to identify its role in the ASEAN
bloc, he said, suggesting the country produce higher value products in
its efforts to speed up national industrialisation and modernisation.
He also recommended that Vietnam pay attention to taking measures
to narrow income gap in its development plan and attach environment
protection to development.
According to Yumiko Tamura, ADB
Principle Country Specialist, who is also Country Deputy Country
Director, developing Asia countries, including Vietnam , are
recovering with speed and vigour.
ADB forecast that these countries will see average growths of 8.2 percent in 2010 and 7.3 percent in 2011./.
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