Domestic Market To Spur Economy

November 2003
Asia Monitor: South East Asia Monitor Volume 1;Nov2003, Vol. 14 Issue 11, p6
Country Report
Country Report
Vietnam will remain one of Asia's fastest-growing economies for another five years at least as of November 2003. Exports will continue to grow quickly, inflation will remain no more than moderate, the workforce will remain large, disciplined and cheap, and foreign companies will continue to be attracted by one of the most liberal investment codes in the region. The real engine of economic growth, however, will be Vietnam's expanding domestic market for consumer goods. Light industry, especially agro-& seafood processing, textiles & garments, electronics & computers, handicrafts, and the motorbike & car sectors, continue to have considerable potential, the latter notwithstanding concerns about recent tax changes.


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