Foreign businesses optimistic about Vietnam's investment potentials
Executives of foreign businesses are optimistic about Vietnam's investment potentials, said Jonathan Pincus, senior economist of United Nations Development Programme office in Vietnam.
The chief economist, has said this at a conference in Hanoi on October 17 held by the United Nations office in Vietnam, which aimed to launch the United Nations Conference on Trade and Development (UNCTAD)- prepared World Investment Report 2006, FDI from Developing and Transition Economies: Implications for Development.
He said that Vietnam is a great country with potentials for investment and skillful workers. However, Vietnam has still to deal with obstacles to attract more investment. The economist said he hoped that after joining the World Trade Organisation (WTO), Vietnam will become one of the main destinations for FDI inflow.
According to the report, foreign direct investment inflows to South, East and Southeast Asia, including Oceania, reached a new high of US $165 billion in 2005, a 19% increase over 2004. This year, Vietnam's FDI inflow exceeds US $2 billion.
Subinay Nanday, UNDP deputy resident representative in Vietnam, who briefed about report, said that Vietnam followed the trend. However, the country needed to invest more in her infrastructure and workforce. "FDI inflows to Vietnam have followed this trend, with receipts exceeding US $2 billion in 2005. This most recent increase reflects investors' confidence in Vietnam's economic future". "There is room for improvement in Vietnam's investment environment. Better infrastructure and telecommunications facilities, more highly skilled workers and stronger national technology policies would make Vietnam more attractive, and would enable Vietnamese firms to make better use of FDI", he added.
Source: Nhan Dan
