According to the report, Vietnam has been successful at cooling an overheated economy to achieve macroeconomic stability. Growth remains below trend and will likely expand only at 5 percent in 2012. "An anticipated recovery in Q4 could stoke inflationary pressure although inflation is still likely to stay in single digits by year-end 2012”, says the report.

However, the deceleration of the economy should be taken as an opportunity to correct structural weaknesses such as a still-cumbersome business environment, inefficient SOEs and public investment, it says.

The latest data release also shows that exports rebounded, trade balance year-to-date was positive, inflation remained in single digits and the economy accelerated slightly in the third quarter of 2012.