Vietnam has an open door to welcome foreign investors and the State and Government will do their utmost to create a favourable environment for investors, President Nguyen Minh Triet said on Nov. 13 during his reception of a delegation from the Asia Business Council (ABC). Speaking with the council's members, who are all CEOs of large groups and companies that have made long-term committments to development in the Asia-Pacific region, President Triet appreciated the fact that Hanoi was chosen by the ABC to host its annual conference from Nov. 13-15. "This is a good chance for Vietnamese businesses to learn and gain experience and to introduce images of Vietnam to the world," he said. Answering the visitors' queries on the impact of the global financial crisis in Vietnam , President Triet said that Vietnam has undertaken serious considerations to discover areas of weakness, and has applied a range of solutions that have demonstrated their effectiveness in stabilising the economy. … [Read more...] about President: Vietnam opens door to welcome foreign investors
Foreign investors council
Foreign investors needed for bad debt settlement: expert
Foreign investors needed for bad debt settlement: expert Thanh Thuong and Tu Hoang By Thanh Thuong and Tu Hoang - The Saigon Times Daily HCMC/HANOI – Policies should be made more liberal for foreign investors to get involved in debt trading, and thus bad debt settlement can be accelerated, said Dr. Le Xuan Nghia, member of the National Advisory Council for Monetary Policy. The scheme on establishment of Vietnam Asset Management Company (VAMC) will be put forward at the next meeting of the Government. However, bad debt cannot be solved with domestic resources alone, said Nghia at a workshop on interest rate management and demand for senior finance-banking human resources held by the University of Finance and Marketing. VAMC, with estimated chartered capital of VND100 trillion, will buy debts from banks via bond issuance, meaning bad debts from banks will be transferred to VAMC. Banks will have to extract provision worth 20% of the total value of bonds issued by VAMC. After … [Read more...] about Foreign investors needed for bad debt settlement: expert
Foreign investors fret over Vietnam’s proposed retail revisions
Foreign investors and economists contend that Vietnam's draft plan for the development of its retail sector will spur mass urbanization and tie outside competitors up in red tape. The Vietnamese government should focus on its development goals instead of creating barriers to limit investment or protect domestic firms from foreign competition, experts said. Last week, the Ministry of Industry and Trade released its draft, in an effort to solicit feedback from stakeholders before submitting a final proposal to the government. The government will issue a decree on the retail industry next year, establishing a new legal framework across the board. A policy change is eagerly anticipated by wholly foreign-owned firms which have been allowed to operate in Vietnam since 2009, two years after the country joined the World Trade Organization. Professor Robert A. Rogowsky of the Center for Asia-Pacific Economic Cooperation told Thanh Nien Weekly that the development of the … [Read more...] about Foreign investors fret over Vietnam’s proposed retail revisions
Foreign investors optimistic on Vietnam’s growth: Ex-PM Lee
Several foreign businesses are optimistic about Vietnam's development and believe the country would grow faster thanks to its younger and more dynamic leaders, Singaporean Minster Mentor Lee Kuan Yew said. Ex-PM Lee made this point during the meeting with Le Thanh Hai, secretary of the Ho Chi Minh City Communist Party Committee, and the city People's Council Chairwoman, Pham Phuong Thao on Friday. The two sides discussed the socio-economic development of HCMC, co-operation between the city and Singapore in sectors like education and training, among others.Hai said Singapore was a good example for HCM City to follow, not only in economy and educa¬tion but also regarding administra¬tive reforms and the fight against corruption.He thanked the Singaporean government for support given to edu¬cation and training, eco¬nomic development, ur¬ban management and traf¬fic planning.Lee Kuan Yew lauded the strong development of HCMC, and added that Vietnam's WTO … [Read more...] about Foreign investors optimistic on Vietnam’s growth: Ex-PM Lee
Vietnam to become choosier in selecting foreign investors
VietNamNet Bridge - A new strategy on attracting foreign direct investment (FDI) is being compiled by the Ministry of Planning and Investment (MPI), which has stated that there will be big changes in the way of approaching the source of capital.Sustainability should be put on the top priority The noteworthy thing in the drafting of the new strategy is that instead of compiling a strategy itself, MPI will mobilize strength from different sources in the society, including multi-national groups, scholars, private businesses, and it will consult with domestic and international advisors. Meanwhile, an advisory council has been set up which gathers leading scientists, both Vietnamese and international, who have practical experiences and deep research works in different fields. According to Do Nhat Hoang, Director of the Foreign Investment Agency, it is now the right time for Vietnam to set up the requirements which allow it to more thoroughly select foreign investors, thus allowing … [Read more...] about Vietnam to become choosier in selecting foreign investors