Hopeful Recovery for Vietnam

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In a report from Reuters, it was disclosed that the inflows of foreign investments to Vietnam had already reached US$2.7 billion just for the first quarter of this year. According to a government agency, this year's inflows is seven point one percent higher compared to last year's financial infusion from foreign investors at the same period.

The guarantees for new investments in the first quarter have already reached two point two percent from last year to US$2.93 billion, according to the reports of the Planning and Investment Ministry. Most guarantees were received by the manufacturing industry, followed by the real estate industry then the retail and wholesale sector according to the agency's reports.

The main source of Vietnam's foreign exchange is the foreign direct investment and the overseas remittances. Unfortunately, since it had reached its peak in 2008 at US$60 billion, the remittances slowly declined and had a difficulty in its recovery. It caused the economy of Vietnam to slow down resulting in the government to undertake programs to control inflation.

Tags
Vietnam, Growth

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