Vietnam can build on record of strong economic growth

• Pages: 5

Page 5

Vietnam has recorded high growth in recent years, shown prudent macroeconomic management, and increased its integration into the global economy, the IMF said in its annual economic assessment. The country is now well positioned to continue its structural reforms in key areas, including restructuring state-owned banks and enterprises, improving its private sector investment climate, securing accession to the World Trade Organization, and enhancing governance and the transparency of policy making.

Vietnam's real GDP has grown at annual rates of around 7 percent since 2000. Although 12-month inflation increased sharply in the first nine months of 2004 because of a jump in food prices, which comprise about half of the CPI basket, annualized monthly inflation has fallen since July. In its assessment, the IMF's Executive Board welcomed the...