3:26:30 PM | 7/8/2005
The relations between
The chairman based his expectation on the European Union’s lifting of quotas on Vietnamese textile and garment exports
The bilateral ties have been growing well, especially after the EU's admission of 10 more member countries, the chairman noted. He hoped to see more investment from the EU's newest members into
Last year, Vietnam saw great social and economic development, said Hjortlund, adding that he was impressed with around US$4 billion foreign direct investment (FDI) registered in Vietnam last year. The figure shows that foreign investors are confident in the Vietnamese investment environment, he said.
The Eurocham official said that the trade surplus in 2004 was another good sign as a larger share of the Vietnamese exports came from foreign-invested enterprises, which showed that the government had better facilitated foreign-invested enterprises to do business.
"There will be more investment and trade as well as better conditions for foreign investment and the domestic private sector," he said.
Regarding opportunities for and challenges to economic development facing
He said he saw no indication that this would happen, and although believing in long-term cycles, he nonetheless said that Rooster 2005 would be a good year. All the surrounding countries have good prospects and as
The chairman, however, noted that an important challenge for
The Vietnamese government should have more incentives for foreign investors than its neighbors that help attract investment, because there is stiff competition among regional countries, he said.
As negotiations with major World Trade Organisation members including China, Japan, Australia, Canada and the US are on the way in 2005, Vietnam must ensure that its laws and regulations comply with WTO conditions and meet its commitments, said the Eurocham chairman.
The EU is now
The EU has disbursed EUR246 million (US$241 million) of ODA to
Vietnamese
