BMI revises upwards forescasts on Vietnam's GDP growth

Business Monitor International (BMI) has raised its forecast about Vietnam's GDP growth in 2009 from 2.9 percent to 4.5 percent because of the government's demand stimulus policy and improved export.

The London-based independent company said in the first half, Vietnam's economy grew by 3.9 percent against a year earlier, an all-time low level, but the macro-economic information and statistics in the second and third quarters showed that the government's demand stimulation policy and the central bank's measures worked well.

Retail sector remains economic bright spot

Against the backdrop of industrial production value and exports plunging sharply in the last eight months, Vietnam’s retail sector saw products flying off the shelves, attaining a growth rate of 18.4 percent.

According to the latest report from the General Statistics Office, the country’s revenue from the retail and services sector totalled 743 trillion VND in the reviewed period.