Vietnam economy grows nearly 8.5 percent

Vietnam's economy grew by nearly 8.5 percent in 2007, the fastest rate in 11 years, after the country joined the World Trade Organisation, the communist government said Monday. The gross domestic product (GDP) growth rate of 8.48 percent, compared to 8.2 percent in 2006, was one of the highest in Asia.
But was topped by neighbouring China, said the Government Statistics Office (GSO). Industry and construction made up 42 percent of the developing country's economy, followed by the services sector with 38 percent, and agriculture, forestry and fisheries with 20 percent, said the GSO.
Vietnam, which launched market reforms two decades ago and joined the WTO in January, attracted a record 20.3 billion dollars in investment pledges after promising to further open its doors to foreign business under WTO rules.