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US Website: VN economy likely to show significant expansion
The Vietnamese economy is expected to show a significant expansion though it was mildly affected by the diminished export demand, said a New York-based website.
An article posted on Seeking Alpha on Jan.25 wrote: “Vietnam practically evaded all the direct problems that came with the financial crisis, but the country was mildly affected by the diminished export demand. The Vietnamese economy and related exchange-traded fund (Or ETF) may show a significant expansion as other countries start increasing imports.”
The website quoted PXP Vietnam Asset Management as saying that Vietnam’s economy could grow 7.5 percent this year and Bloomberg as saying that the Vietnamese economy expanded 5.3 percent in 2009 after a drop in demand for exports and foreign direct investment.
Harvard University Professor Joseph Nye was quoted by Seeking Alpha as pointing to Vietnam’s open economy, foreign direct investment and increasing exports as factors that aided the country’s rebound from the recent global financial downturn.
According to Bloomberg, the gradual recovery in export demand will provide the extra push in economic expansion in Vietnam.
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