Vietnam’s economic growth will quicken to about 6.5 percent this year, according to Australia & New Zealand Banking Group Ltd.’s Chief Executive Officer Michael Smith.

Taiwanese-owned Hon Hai Precision Industry Company, which owns the world famous electronics manufacturing trade name Foxconn, will invest billions of dollars in a hi-tech complex in central Vietnam this year

As the economy recovers, the country’s two major economic hubs, HCM City and Ha Noi, have set high goals for GDP growth in 2010, 10 per cent and between 9 and 10 per cent, respectively.

The establishment of a new power company, Vincomin Power, would foster competition in the energy sector and benefit consumers, a senior official has said.

Malaysia’s leading retailer group Parkson Corporation said its business in Vietnam has recorded the highest growth among markets worldwide where it is present, so it plans to further expand its investment in the country.