Vietnam posts lower economic growth in first half

Vietnam recorded gross domestic product (GDP) growth of 7.4 percent in the first half of this year, compared with the rate of 7.6 percent in the same period last year, local newspaper Investment reported Monday.

From January to June, GDP in the local industry and construction sector rose 9.3 percent, compared with the 9.5- percent increase in the same period last year. Meanwhile, GDP in the agriculture, forestry and fishery sector and the service sector grew 3 percent and 7.7 percent, respectively.

In the six-month period, Vietnam gained export revenues of 18.7 billion U.S. dollars, a year-on-year rise of 25.7 percent.

Vietnam is expected to witness GDP growth of 8-8.2 percent in 2007, Vietnamese Minister of Planning and Investment Vo Hong Phuc said at a recent meeting, noting it has targeted an economic growth of more than 8 percent in the year.

The country is focusing on boosting production and export, improving quality of goods and services for export, and intensifying fight against corruption and wastefulness.

Last year, Vietnam's GDP grew 8.43 percent to 53 billion dollars, or GDP per capita of 640 dollars.

Source: Xinhua