May 28, 2010Sharpening the Economic Competitive Edge
(VEN) - The Ministry of Planning and Investment, the World Bank and the International Finance Corporation together held the Mid-term Vietnam Business Forum (VBF) 2010 on May 26 in Hanoi, under the theme, "Enhancing the Efficiency and Competitiveness of the Vietnamese Economy".
The event was launched before the Mid-year Consultative Group Meeting for Vietnam scheduled to take place on June 9-10 in the city of Rach Gia in Kien Giang province.
The forum addressed many problems for Vietnam related to socioeconomic development, infrastructure, energy efficiency, climate change and more.
Victoria Kwakwa, the World Bank director, spoke highly of the Vietnamese government's good response to the global economic crisis and the ability to stabilize the macro economy and enhance the economic competitiveness. She also said that Vietnam has been recognized as an attractive destination for foreign investors, and in this light the government needs to create better conditions to draw investment capital and develop the country.
Alain Cany, the EuroCham chairman, said that this year is very promising for the Vietnamese economy. Given the growth at 5.32 percent in 2009 and 5.8 percent in the first quarter of this year he believed that the Vietnamese economy will exceed 6.5 percent in 2010.
He also spoke highly of the Ministry of Planning and Investment for its issuance of new regulations that are to complete a legal framework for public-private partnership (PPP) projects. He said that developing infrastructure is one of core tasks for Vietnam to sharpen the regional competitive edge and deeper integrate with the world. PPP projects will become an important factor for upgrading infrastructure and enhancing Vietnam's competitiveness in the region and the world.
Jocelyn Tran, the AmCham Vietnam chairman, said that despite many challenges, Vietnam will continue to be a good destination for foreign investors. He also expected to see more actions from the government to maintain and stabilize the macro economy.
Hiroyuki Moribe, JETRO Hanoi chief representative, said that many Japanese investors appreciated the investment environment in Vietnam and that they are particularly charmed with the low labor cost and the consumption market in Vietnam.
Vo Hong Phuc, the Minister of Planning and Investment, said that Vietnam has almost overcome the crisis so far this year and this is an impetus for the country to continue to grow rapidly in the years to come. However, he said that to further improve the economic competitiveness, the Vietnamese government expects many more open dialogues with the business community and the consultative group for Vietnam.
