|
Foreign firms still hooked on Viet Nam
Viet Nam continues to be an attractive investment destination despite the global recession, according to the director of the Southern Foreign Investment Centre (SFIC).
Speaking at a seminar on alternative investments in HCM City yesterday, Nguyen The Hung said the country remained economically stable.
The two-day seminar is the third of its kind organised by the Foreign Service Center of the Ministry of Foreign Affairs, in co-operation with Singapore's International Quality & Productivity Centre.
Attendees included economists, investors and leaders of foreign and local companies in Viet Nam.
Hung said Viet Nam had become a transportation hub for Southeast Asia and had attracted a great deal of foreign capital since joining the World Trade Organisation.
Much of the capital has been used in urban development, infrastructure projects, support industries, agriculture and rural development projects.
Investment in education and training would help increase the percentage of skilled workers to 40 per cent by 2010, he said.
Nguyen Thanh Long, deputy director of the Securities Business Management Department under the Viet Nam State Securities Commission, said the securities law would also be amended to attract more investment.
Bui Cong Giang, CEO of Anpha Capital Management Joint-Stock Company, said inflation last year had had negative effects, resulting in higher production and capital costs, as well as increases in gas and fuel and transport.
Many commercial banks faced insolvency, low liquidation and frozen credit, but the situation improved after the Government tightened credit policies.
However, many companies had to cut production or close their businesses because of the global recession.
In response, the Government launched an economic stimulus plan, helping companies buy equipment and build infrastructure.
Despite the current downturn, Giang said Viet Nam would remain an attractive destination for foreign capital.
VietNamNet, Viet Nam News
|
