vietnam growth 2001

saigon times weekly

http://www.saigontimesweekly.saigonnet.vn/saigontimesweekly/issue104/vietnam_this_week.htm

ADB puts Vietnam's GDP at 6%
The Asian Development Bank (ADB) has lowered the forecast for Vietnam's economic growth in 2001 to 6% from 6.4% predicted earlier this year due to the global economic slowdown and the sharp fall in prices and output of farm produce.
ADB resident representative John Samy told a press conference last week that Vietnam's agricultural growth is projected to fall to 3.5% this year from 3.9% last year. In its latest report, the bank puts Vietnam's industrial growth at 9.4% and export growth at 12% due to falling world prices of major export items and weakening demand.
The bank hopes the GDP growth next year will rise to 6.2% thanks to an increase in export, import and foreign investment induced by the trade pact with America. "It is difficult to forecast export growth in 2002 due to the great uncertainty of the global economy," the report says. The bank also urges Vietnam to promote export to China, which will also be a source of investment to Vietnam.
According to Vietnam Chamber of Commerce and Industry, China's WTO entry will pose big challenges to Vietnam's efforts to boost export and foreign investment, and force Vietnamese businesses to improve competitiveness for survival