Vietnam’s economy seeing strong recovery

Vietnam’s economy will rebound strongly when other countries begin to boost imports, according to an article posted January 25th on a US website called Seeking Alpha.

The Seeking Alpha article said that Vietnam has gradually overcome the most negative impact of the global financial crisis, but it will continue to be affected by the crisis to the degree that demand for imported Vietnamese products has declined.

It predicted that the country’s exchange-traded fund (ETF) will grow significantly when other countries accelerate imports. The International Monetary Fund (IMF) forecast that the Vietnam economy would grow 6 percent this year.

Professor Joseph Nye of Harvard University said Vietnam’s open economy and growth in foreign direct investment (FDI) and exports will help the country quickly escape the downturn.

Earlier, Bloomberg said that the country’s economic growth in 2009 was only 5.3 percent due to a decline in exports and FDI. The gradually increasing demand for Vietnamese products will help its economy grow rapidly, said Bloomberg experts. 

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