Market and product

The World Bank on Tuesday cut its 2016 growth forecast for Vietnam's economy to 6.0 percent from 6.2 percent seen earlier, citing the impact of severe drought on its agriculture sector and slower industrial expansion.

Annual inflation is expected to pick up to an estimated 4.0 percent, from 3.5 percent seen earlier, it said in a report, attributing that to increased domestic demand and government adjustments in prices of services such as healthcare and schools.

It expects annual inflation to accelerate to 4.5 percent in 2017, from 3.8 percent previously forecast.