Oct 6, 2012

Vietnam – ADB - Vietnam’s economy to grow 5.1 per cent in 2012

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Vietnam’s economy will grow 5.1 per cent in 2012 and 5.7 per cent next year, according to the Asian Development Outlook 2012 Update released by the Asian Development Bank (ADB) on October 3.

ADB country director in Vietnam Tomoyuki Kimura said that the government’s commitment to implementing a reliable reform roadmap with specific actions will recover lending and improve confidence in the market.

ADB economic expert Dominic Mellor said that the bank backed the government’s plans to reform the financial sector and state-owned enterprises.

Sharing views on challenges Vietnam has to overcome in the coming time, he stressed the need to solve bad debts and ensure bank capital safety.


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