Why Vietnam's outlook isn't all doom and gloom

Michel Tosto, the director of institutional sales and brokerage at VietCapital Securities, talks about Vietnam's GDP, FX reserves and the overall confidence in the Vietnamese dong.
Michel Tosto
Michel Tosto

There are quite a few people who take a doom and gloom perspective on Vietnam, particularly when it comes to its balance of payment outlook. You are more optimistic. Why
I think people put too much stock in the headlines without really understanding how Vietnam’s economy works. While challenges exist, fears are overblown. Many focus on the trade deficit of about $12 billion for 2010, or 12% of gross domestic product GDP, but few see that the deficit is more than compensated by inflows of about $11 billion in foreign direct investment, $8 billion in remittances and $2 billion in official development assistance, giving us in theory net inflows of roughly $9 billion, or...

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