Jan 24, 2011
The Financial Times has an article on Vietnam's challenges post-national congress. Some key bullish themes are highlighted in the excerpt below:
"Local brokers, who have some skin in the game – unlike their Hong Kong and Singapore-based counterparts – are even more optimistic.
Peter Pham, head of institutional sales and trading at VinaSecurities in Ho Chi Minh City, expects Vietnam’s central bank to continue tightening monetary policy and devaluing the Vietnamese dong, measures that he believes will see Vietnam hit double digit GDP growth by 2012.
“Inflation will subside because of the tightening,” he said
He also expects net foreign investment inflows to pick up now that the party congress is settled and Nguyen Tan Dung, the prime minister, looks likely to stay on for another term.
Pham admitted that the macroeconomic outlook for Vietnam was “not pretty” but argued that the country was now at a “pivot point” and this was the best time for foreign investors to get in."