Vietnamese Business Forum 2006: good chance to attract investment for national economic development

Photo: VNGOVNet

The Forum came as part of the Consulting Group (CG) Meeting scheduled for December 14-15. The Forum was attended by 135 representatives of different governments in the world, 131 representatives of foreign embassies, 108 foreign enterprises and organizations, and 61 Vietnamese businesses and professional associations.

Addressing the Forum, Deputy PM Phạm Gia Khiêm said Vietnam strives to basically become an industrialized country by 2020. To reach this goal, over the next five years, the country needs US$140 billion for development. The Deputy PM revealed that the Vietnamese Government is now in the middle of designing an action plan for the project: "To increase competitiveness, grasp opportunities and tackle challenges brought about by globalization and international economic integration". The Vietnamese Government pledges to promote administrative reform, renew its thinking in training human resources and building contingent of dynamic business managers and excellent lawyers.

Mr. Phạm Gia Khiêm said: “Under the theme "Improving the investment and business environment in the post-WTO period", this Forum proves to be of timing significance and necessary to Vietnam." He said that the forum’s outcome will serve as crucial preconditions for the Vietnamese Government to use for national development in the new era.

At the forum, the CG produced in agreement their claim of Vietnam’s areas with high potential for investment, including telecommunication, seaport, infrastructure, and stock market; as well as constraints in investment policies it should address, such as the issuance of laws, decrees, ordinances, and business registration procedures. According to the Japanese Bank for International Cooperation (JBIC), Vietnam is placed third in the top ten of economies for investment prospects, just after China and India.

By Xuân Hồng