LAOS: The Asian Development Bank (ADB) expects Laos ' gross domestic product (GDP) to grow by at least 7% in the coming years, despite concerns about rising inflation .




Vietnam's economic growth slowed markedly in the first nine months of the year, dragged by government efforts to tackle rampant inflation, according to official figures released Monday.

Gross domestic product is estimated to have expanded 6.5% from a year earlier in January to September compared with 8.2% growth in same period of 2007, the Government Statistics Office said in a statement.

Vietnam usually issues economic data based on estimates before the end of the reporting period.

After a decade of fast growth, Vietnam's economy began overheating last year, forcing the government to cut state expenditure and put price controls on some goods. The consumer price index is estimated to have risen 27.9% from a year earlier in September.

The government, as part of its anti-inflation efforts, is targeting economic growth of 7% in 2008, compared with 8.5% last year. The Asian Development Bank forecasts Vietnam's GDP to expand 6.5% this year.

GDP was estimated to be worth VND1,017 trillion ($61.6 billion) in the first nine months of 2008, the GSO said.

The gross value of the agricultural sector in the period was VND219.54 trillion, up 3.6% from a year earlier, and accounted for 21.6% of GDP.

The industry and construction sector was worth VND405.15 trillion, up 7.1%, and accounted for 39.9% of GDP.

The services sector was worth VND391.82 trillion, up 7.2% on year, and equal to 38.6% of GDP.

Total investment in the country likely rose 26.2% from a year earlier to VND422.5 trillion in the nine months, and domestic sales increased 30.1% to VND694.4 trillion.

Vietnam has produced 29.6 million tons of paddy rice in the first nine months this year, up 8.8%, and has exported 3.69 million tons of rice, down 7.4% on year.