Vietnam vows to lower inflation

Vietnam, a booming nation in southeastern Asia, has vowed to boost its economy by attracting more talent to its shores and increasing its level of integration with the international business community, a top official said.

The country, which has undergone a transformation from a centrally planned economy to a market run one through international integration, has maintained a high economic growth rate of around 7.5 percent on average between 2001-2005 while in 2007 it reached 8.5 percent.

Its growth is expected to fall to around 6.5 percent this year as the nation grapples with rising petrol and food prices, Vietnamese Deputy Premier Nguyen Sinh Hung said at the second Vietnam Economic Forum, held in the capital Hanoi on September 19.