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Vietnam's economy grew at 8.4 percent in 2007

Vietnam's economy grew at 8.4 percent in 2007

Vietnam's economy grew by 8.4 percent this year, the fastest expansion in the last 10 years, and inflation is estimated at 8.3 percent, according to government figures released Tuesday.
Export revenues have earned the country an estimated US$48.3 billion in 2007, the Vietnamese government said on its Web site.
The high inflation was attributed to recent price hikes on major products, including food, gasoline and construction materials, the report said.
Vietnam had set a 8.5 percent gross domestic product growth target for 2007 and has tried to keep the inflation rate below that figure. It has set a 9 percent economic growth target for 2008.
Foreign investment pledges in Vietnam have surged to US$20.25 billion (euro14.08 billion) in 2007, up 68.7 percent from the same period last year.
Last year, Vietnam attracted US$12 billion of foreign direct investment, the highest amount since the country began accepting foreign investment in 1998.
Vietnam's economy has grown at an average rate of nearly 8 percent for the past decade, one of the highest rates in the world. Last year, the country's economy expanded by 8.2 percent.


Updated : 2021-06-19 09:28 GMT+08:00