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the Economic Growth of Vietnam
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Vietnam welcomes investors, business conference told October 21, 2010 "Infrastructure is now the weakest link for Vietnam, especially with its underdeveloped port system. This is presently a key area of focus for the government. “Vietnam is looking to spend some US$3.7bil in infrastructure and transport. This could be an opportunity for small and medium enterprises (SME) in Malaysia to create significant value. These SMEs need to look beyond the domestic market to grow,” said HSBC Bank Malaysia Bhd deputy chairman and CEO and global CEO of HSBC Amanah, Mukhtar Hussain. (The Star)"
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Asia’s new tiger economy and investment hot spot "... Now referred to as “Asia’s latest economic tiger” and “new investment hot spot,” Vietnam has outdone some of its neighbours in attracting foreign capital." "According to former Japanese Ambassador Norio Hattori, Vietnam is well positioned in Asia, being at the crossroads between Southeast Asia and the Greater Mekong region. “The position of Vietnam is rising. Its potential has become a reality. Politically and socially, Vietnam is the most stable economy within ASEAN. Geographically, the country stands at a very strategic location,” says Hattori."
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Vietnam, Cambodia, Laos to join hands in tourism - International Travel Expo-Ho Chi Minh City 2007 (ITE-HCMC 2007) August 07, 2006 "With a wish to promote tourism outside the region, the organizing board hopes the ITE-HCMC 2007 will be able to attract visitors from such potential tourist markets as the U.S., Europe, Australia, Japan and the Republic of Korea to HCMC and to the countries around the Indochinese area."
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| More 'Biggest and Best' from Donald Trump - Real Estate Investment Project proposed in Vietnam March 2006 "...Although Trump Mortgage has yet to close on any specific projects, it has several in the works. Perhaps the boldest one involves a hotel and resort development in South Vietnam. Trump Mortgage has been retained as exclusive advisor in the development of two hotels--one 300-room, four-star hotel, the other a 300-room, five-star hotel--as well as 30 luxury villas, a signature golf course, tennis courts, conference center and a 500-slip marina..."
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Microsoft Corp. Chairman Bill Gates said Vietnam has the potential to develop as an outsourcing center similar to India April 22, 2006 "Over the next decade, Vietnam will join the list of those miracles, and provide all the advances that come with that development," Gates told a crowd of journalists, local officials and curious locals. Microsoft is committed to playing its role by making a broad set of investments in the country... "It's great that Intel is coming here, and no doubt that other information-technology manufacturers will see the kinds of skills" in Vietnam, Gates said in Hanoi today.
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| Vietnam is frequently viewed as a friendly & safe destination & ranked as one of the most attractive destinations in the world April 24, 2006 "In the first quarter of 2006, Vietnam has attracted around one million international tourists...In recent years, particularly in early 2006, Vietnam has attracted thousands of international tourists traveling by sea on tens of cruise ships that dock Halong, Danang, Nha Trang, Vung Tau, Ho Chi Minh City and Phu Quoc ports.."
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| Japanese Firms Flock to Vietnam August 26, 2006 "According to some analysts, in 2000, Vietnam ranked eighth among destinations for Japanese investment. However, in 2005, Vietnam was in fourth place, just behind China, India and Thailand. For Japan's small and medium-sized enterprises in particular, Vietnam was the second option, just after China."
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| £250 million boost to UK – Vietnam relationship 19 September 2006 "Hilary Benn, UK International Development Secretary, today committed £250 million (US $450 m) in aid to Vietnam over the next five years as he and Minister Phuc (Planning and Investment) signed a new ten year Development Partnership Arrangement (DPA)."
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| Bush will attend the Asia-Pacific Economic Cooperation (APEC) summit in November 2006 June 21, 2005 "I'm looking forward to my trip and to the APEC summit that Vietnam will be hosting," Bush said after meeting in the Oval Office with Vietnamese Prime Minister Phan Van Khai... Bush's visit will be the second by a U.S. president since the end of the Vietnam War; President Clinton made a trip there in November 2000.
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| The introduction of legislation in the U.S. Congress to grant Vietnam Permanent Normal Trade Relations (PNTR)
"If the breadth of support for PNTR is an indicator, Vietnam is sure to join the long list of nations to whom the United States extends normal bilateral relations. Eight senators and 41 representatives from both parties sponsored the bill extending PNTR to Vietnam." "Most impressive is the support on the economic front. The broad coalition that supports PNTR includes the banking, insurance and other service industries, which expect to gain significantly from the economic opening of an underserved market. The Vietnamese life insurance market, for example, is growing at leaps and bounds and multiple international companies are vying for the lucrative market. If Vietnam joins WTO – an all-but-automatic next step after PNTR – the opening of the service sector is likely to benefit the highly competitive U.S. companies."
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| Bilaterals done, multilateral nearly, Viet Nam’s membership now in sight July 19, 2006 "Viet Nam’s Trade Minister Truong Dinh Tuyen said his country sees membership as of crucial importance. The reforms as well as membership itself will be necessary for Viet Nam’s economic growth and will also make a “modest” contribution to the expansion of the global economy, he told the working party. He listed the actions Viet Nam has taken and some of its commitments. These included 24 laws and numerous regulations, including commercial, enterprise and intellectual property laws, and pledges to implement the WTO’s Sanitary and Phytosanitary and Technical Barriers to Trade agreements immediately..."
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| SOCIOECONOMIC RENOVATION IN VIET NAM "The Origin, Evolution, and Impact of Doi Moi" "In 1986, Viet Nam began to introduce sweeping liberalization in all sectors of its previously hardline, centrally planned, and closed economy. Referred to as Doi Moi, this "renovation" has produced dramatic changes in the lives of Vietnamese farmers, workers, and their households." "Viet Nam first liberalized domestic markets, resulting in a rapid growth of agricultural production. It opened its economy to trade and foreign investment; and it opened its borders to flows of people: tourists, businesspersons, students and scholars. Through trade and diplomacy, Viet Nam has become increasingly involved in the region, and has successfully joined ASEAN (the Association of South East Asian Nations). Domestic and international trade and investment have grown rapidly, leading to higher incomes, an influx of international goods, new ways of interaction and commercial organization within the country."
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