Vietnam Says its Economy is Back on Track

Vietnam’s government contends at mid year that its economy is back on the road toward robust 6% growth after taming inflation and overcoming other serious obstacles over the past three years.  Senior officials cited an improvement in economic growth from 4% in the first quarter to 4.5% in the second quarter of 2012.

Also, retail and service sales are higher than last year, new companies outnumber those going bankrupt by a 7-1 ratio, and inventories were down 29% last month.  And  the government has pledged to maintain relatively monetary and fiscal policies as it helps banks settle bad loans and supports expansion by  lowering interest rates.

At the same time, the government emphasizes a balance between its economic and social goals for the country, which means prioritizing education as it restructures the economy to promote efficiency and competitiveness.

More on the Vietnam economy mid-2012


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