Grant Thornton survey shows business execs still upbeat about Vietnam economy

Saigon Times, Jan 8, 2009. Senior business executives in general still hold an upbeat outlook about Vietnam in 2009, although the level of optimism has fallen sharply, according to a survey just released by Grant Thornton International.

The firm’s new International Business Report unveils 31% of the executives from over 7,000 privately-held businesses (PHB) around the world expressed optimism in Vietnam’s growth in 2009.

“Optimism has fallen from +87% to +31%. However, Vietnam is still one of the most optimistic countries.”

“Vietnam’s economic growth slowed in 2008 to its weakest pace in almost a decade and suffered during the year by the soaring prices for raw materials and then the global financial crisis,” the report says. It cited Vietnam’s total industrial output growth slowed down to 14.6% year on year in 2008 from 17.1% in 2007, but is still positive.

The report points out a fall in consumer demand in the U.S., Europe and other major export markets of Vietnam is the greatest concern for the next 12 months.

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