~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

[Year 1997]
[Year 1998]
[Year 1999]
[Year 2000]
[Year 2001]

Hanoi sees 2001 growth quality low; CPI up 1.0 pct

HANOI - The Vietnamese government has forecast 7.0 percent gross domestic product growth and lower than expected inflation of one percent for 2001, but said on Saturday the quality of growth remained poor. In a draft report published on Saturday and to be delivered to a National Assembly session next week, the government said the key factor behind the consumer price index rise being well below a target of no more than five percent was a sharp decline in world market prices.

The report added: ``The quality of the growth and the efficiency and the competitiveness of the economy is still low.'' It said the financial sector remained under-developed, unemployment and production costs high, and governmental policy disjointed. The National Assembly had initially targeted 7.5 percent GDP (news - web sites) growth for this year, a figure revised down by the government to 7.1 percent in September.

A National Assembly report released on Friday also put GDP this year at around 7.0 percent, compared with an estimate of 4.9 percent by the World Bank, 4.7 percent by the International Monetary Fund and 6.4 percent by the Asian Development Bank. The government has targeted GDP growth in 2002 of 7.0-7.3 percent. The month-long National Assembly session starting on Tuesday is due to ratify a historic trade agreement with the United States which should provide a significant boost for Vietnam's exports.

The pact will, for the first time, grant Vietnamese exporters access to the U.S. market at the same low tariffs enjoyed by most other countries.

Reuters - November 17, 2001.