The Gross Domestic Production grew at 6.9 percent during the fourth quarter, its fastest quarterly growth during 2009.It enabled Vietnam to achieve annual growth of 5.32 percent despite a relatively slow start. Though the growth rate decreased compared to that of 2008, which reached 6.18 percent, the 2009 figure still exceeded expectations. It marks Vietnam’s strong rebound after being hit hard by the global economic recession.
In 2008, the inflation rate climbed a record 19.89 percent and was one of major threats to the economy during the year.However, the inflation rate in 2009 was retained at a much lower level of 6.52 percent, even lower than the target level of 7 percent set by the National Assembly. Moreover, this is a relatively low infl ation rate as compared with those since 1991.
This publication is partly cited from FineIntel’s Industry Update. Our monthly industry update is a publication designed to provide meaningful insight into today’s industries in Vietnam. We encourage our readers to submit suggestions for topics that they would like see covered in future issues. While FineIntel can not cover each and every topic, we will do our best to provide the fullest coverage possible.
On June 19, 2009, the National Assembly of Vietnam voted in favor of a bold stimulus package that includes an exemption from Personal Income Tax (PIT) for 2009. The Ministry of Finance’s Circular 160/TT-BTC issued on August 12, 2009,provides guidelines for personal income tax exemptions/reductions in 2009.
Despite the SBV’s effort to stabilize the foreign exchange market, its status remains uncertain. For a market with high dollarization rate like Vietnam, the decline in confi dence causes people to hold onto their US dollars instead of selling them to the bank.
2009 was on one of the most challenging economic climates Vietnam has faced recently, marking the country’s lowest GDP growth (about 5.32%) in years.For the first time in more than a decade, industries and services grew at single-digit rates as they felt the effects of the global economic slowdown; export turnover was 10 Percent lower than that of the previous year, while import value fell by nearly one-third. The fi nancial crisis also affected the labor market. Job losses were not only popular media headlines throughout 2009, but also an invisible phantom scaring many people.
While no industries are recession-proof, some are better able to weather the storm than others. According to a Business Monitor International report, Vietnam’s alcoholic beverage market will grow by 47 percent by 2012, reaching US$2.2 billion. Vietnam’s recent economic growth has led to a signifi cant increase in standards of living and in consumers’ disposable incomes. Combined with a growing young population, these trends have contributed greatly to growth in alcohol sales and attracted the attention of multi-national beverage companies such as Asahi Breweries and Anheuser Busch. Domestic sales are driven primarily by hotels, restaurants, bars, pubs, and discotheques, which accounted for roughly 72 Percent of 2008 revenue.
This publication is partly cited from FineIntel’s Industry Update. Our monthly industry update is a publication designed to provide meaningful insight into today’s industries in Vietnam. We encourage our readers to submit suggestions for topics that they would like see covered in future issues. While FineIntel can not cover each and every topic, we will do our best to provide the fullest coverage possible. 
On June 19, 2009, the National Assembly of Vietnam voted in favor of a bold stimulus package that includes an exemption from Personal Income Tax (PIT) for 2009. The Ministry of Finance’s Circular 160/TT-BTC issued on August 12, 2009,provides guidelines for personal income tax exemptions/reductions in 2009. 
Despite the SBV’s effort to stabilize the foreign exchange market, its status remains uncertain. For a market with high dollarization rate like Vietnam, the decline in confi dence causes people to hold onto their US dollars instead of selling them to the bank. 
2009 was on one of the most challenging economic climates Vietnam has faced recently, marking the country’s lowest GDP growth (about 5.32%) in years.For the first time in more than a decade, industries and services grew at single-digit rates as they felt the effects of the global economic slowdown; export turnover was 10 Percent lower than that of the previous year, while import value fell by nearly one-third. The fi nancial crisis also affected the labor market. Job losses were not only popular media headlines throughout 2009, but also an invisible phantom scaring many people.
While no industries are recession-proof, some are better able to weather the storm than others. According to a Business Monitor International report, Vietnam’s alcoholic beverage market will grow by 47 percent by 2012, reaching US$2.2 billion. Vietnam’s recent economic growth has led to a signifi cant increase in standards of living and in consumers’ disposable incomes. Combined with a growing young population, these trends have contributed greatly to growth in alcohol sales and attracted the attention of multi-national beverage companies such as Asahi Breweries and Anheuser Busch. Domestic sales are driven primarily by hotels, restaurants, bars, pubs, and discotheques, which accounted for roughly 72 Percent of 2008 revenue. 
