World Bank cuts forecast for Sandeep Mahajan, head economist at the World Bank Office in Vietnam, said that economic growth would likely be only 5.4% this year, missing the government's target of 5.8%.  Sandeep Mahajan, head economist at the World Bank Office in However, in a press conference held on October 6, Mahajan also said that Mahajan also said that the restructuring of state-owned enterprises was going slower than what the World Bank had expected. However, he showed understanding by saying that a successful equitisation process has many factors. Due to the impacts of economic downturn, investors are reluctant to buy shares, putting more pressure on enterprises. According to Mahajan, Vietnamese authorities should be more active in making information about the process public. Transparency is another matter that needs to be worked on if Vietnamese authorities want to speed up the restructuring process, he said. He added that Vientam's economy has two kinds of growth. The first is strong and comes from FDI and the second, weaker one comes from domestic companies. This, along with a high trade deficit, has hampered By Bich Diep, dtinews.vn |
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