Vietnam Q1 seen 4.96% y-o-y growth

Vietnam's economy grew an estimated 4.96% in the first quarter from a year ago, the fastest quarterly pace since 2011, and above a 4.76% rise in the same period last year, a local newspaper reported on Tuesday.

The annual growth in the January-March period compared with a 4.75% rate in the first quarter of 2012 and 5.9% in the same period in 2011, the Vietnam Economic Times newspaper cited government statistics as saying.

Vietnam's gross domestic product growth this year is forecast to accelerate to an annual 5.8%, from 5.42% in 2013.