|
Belgian envoy warns Vietnam about current account deficit
With exports, foreign direct investment and remittances all falling this year, the government should make efforts to control the current account deficit to improve investor confidence, the Belgian ambassador has said.
Speaking at a conference titled “Doing Business in Vietnam - What’s Next?” in Hanoi Wednesday, Hubert Cooreman said: “Now is the time for Vietnam to concentrate on building on its strengths to ensure it can take advantage of its relative stability and emerge in a positive position as the world economy starts to recover.”
The government has adopted the correct measures to accelerate structural changes in the economy to enhance productivity and maximize retention of the nation’s growth potential, he said.
Creative approaches are required to meet the nation’s infrastructure and human resources needs.
The transfer of best practices and the willingness to learn from success stories elsewhere in the world would be vital in ensuring that Vietnam is able to emerge from both the global crisis and its own economic integration process as a true regional leader, he said.
Pham Quang Thu from the Ministry of Industry and Trade said Vietnam, like many other developing countries, has built an export-oriented economy.
The government’s policy is to strengthen exports and encourage foreign investment in labor-intensive export industries.
It has also encouraged foreign investments in certain fields like telecommunications, tourism and retail, he said.
Bui Quoc Trung, deputy head of the Foreign Investment Agency, said Vietnam has improved its infrastructure and legal system and accelerated administrative reforms.
Ngan Anh
thanhnien
|
