Vietnam Economic Growth Quickens as Investment Aids Exports

Vietnam’s economic growth accelerated in the second quarter after the central bank cut interest rates to revive lending to businesses and rising foreign investment boosted the nation’s exports.

Gross domestic product grew 5 percent in the second quarter from a year earlier, according to the General Statistics Office in Hanoi. The central bank said today it would weaken its dong-dollar reference rate and that it would lower its rate caps on U.S. dollar and dong deposits effective June 28.