According to the report, production and construction values hit a 10-year record low of 3.1 percent in the first quarter of this year. Despite a surge in the second quarter, Vietnam’s annual growth will be lower than the previous years but still higher than some other Asian countries.
The ANZ Bank forecast Vietnam’s growth at 4.5 percent. Strong FDI inflows will be a key factor in making up for trade deficit, it said.
China and India still take the lead in terms of growth rates in the region after stimulus plans have been implemented.
The report shows that slow growth in Asia has led to a reduction in net and gross export values. Newly industrialized economies such as Hong Kong, the Republic of Korea, Taiwan and Singapore are worst hit by the global economic downturn.