Vietnam's GDP expected to grow 4.9%

Vietnam's Gross Domestic Product ( GDP) growth is expected to reach an estimated 4.9 percent in the first six months of this year, reported the Communist Party of Vietnam (CPV) on its website on Wednesday. According to the Ministry of Planning and Investment (MPI), agriculture, forestry and fishery sector grew 2.07 percent year-on- year, while industry-building and services rose 5.18 and 5.92 percent, respectively. The six-month GDP growth is almost equivalent to the 4.93 percent figure of the same period last year. Noticeably, inventories have decreased gradually while industrial production increased month by month. In addition, the number of newly-established businesses went up 7.8 percent in the first two quarters of this year, while the number of suspended businesses restarting their operation was 9,300. MPI forecasts that GDP growth in 2013 will likely reach the set target of 5.5 percent.