Friday, August 31, 2007

Citigroup: Viet Nam able to resist US credit crunch

Viet Nam will weather the US credit crunch thanks to its high industrial production growth, strong increases in retail sales and foreign direct investment influxes, said a Citigroup official on August 29.

At a seminar entitled “Asian market and economic situation” in Ha Noi, Citigroup Asia Pacific Economic and Market Analysis Head Yiping Huang did however warn that the country must reign in inflation as the Vietnamese dong (VND) being continuous to be pressured by unexpected risks.

Citigroup experts have suggested that Viet Nam control inflation by tightening its monetary policy and the management of key commodity prices.