Vietnam’s economic growth to reach 8.5 percent in 2010: Swiss bank

The Credit Suisse bank of Switzerland has forecast that Vietnam’s economic growth will reach 8.5 percent in 2010, according to the Saigon Giai Phong (Liberated Saigon) daily.

The forecast was made during a recent Vietnam visit by Kai Nargolwala, the bank’s General Director for the Asia-Pacific.

The Credit Suisse bank said the strong recovery of exports and the increasing domestic demand would be impetus to the country’s economic growth.

Regarding a long-term investment plan in Vietnam, Kai Nargolwala highly appreciated the Vietnamese government’s efforts to stabilise cash and credit sources to avoid the economic slowdown and wide-range unemployment and maintain confidence in the country’s financial resources.

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