Vietnam should attract more investment from Southeast and Northeast Asian countries such as Japan, South Korea, Hong Kong, Taiwan and Singapore, rather than only targeting at the US and Europe, said Former US Trade Representative Charlene Barshefsky.
Barshefsky was recently quoted by VietnamNet correspondents by saying that, with huge capital and high technology, these regional countries are the very big investors that have helped China develop, but not the US. They also have performed in Thailand and Malaysia.
Japan, Taiwan, Hong Kong, Singapore and South Korea now own the majority of important investment projects in China, accounting for 60-70 per cent of total investment capital into China, she said, adding that Vietnam needs to think about that.
It is very important for Vietnam to improve the quality of its business environment, not only in the field of IT but also in banking and telecom areas, and upgrade infrastructure, according to Charlene Barshefsky.
Vietnam was also urged to pay much attention to financial service sector, banking, and high-tech industries such as telecom.
The country also needs to introduce successful foreign investors in the country and broadcast the national potentials as well as concrete favorable conditions for foreign investors, she added.
The former US trade representative also believed in a bright future for Vietnam-US relations, especially in their trade and investment ties. She said both Vietnam and the US want to strengthen their relations for peace and stability, and, for the US, Vietnam plays an important role in the Asia-Pacific region.
The two countries should promote frank dialogue for mutual understanding on their differences such as positions on human right and religious issues, said Charlene Barshefsky.
She hoped US firms would pour more investment into Vietnam’s infrastructure, energy and IT sectors.
She concluded that the US is interested in Vietnam because it has found something enjoyable in Vietnam, but Vietnam should learn experience from China to attract more investment from East Asian nations.
Charlene Barshefsky, who served as US trade representative under the Clinton administration from 1997-2001 and was an architect of the Vietnam-US bilateral trade agreement (BTA), is now the advisor of many big US investors such as Intel and TPG to Vietnam. She accompanied President Bill Clinton on his historic visit to Vietnam in November 2000. (VietnamNet)
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