Vietnam is listed as one of the most dynamic economies in the world as it is expected to gain a GDP growth of 8.5 per cent this year and its current foreign direct investment (FDI) accounts for 4.1 per cent of the GDP, according to The Diplomat, an Australia’s leading magazine on internal affairs.
The magazine said Vietnam’s economic growth will double in the next decade when the country gains the WTO membership.
Vietnam’s privatization policies will lure a strong investment wave from Australia in the fields of construction, services and advertisement in the near future, it noted, adding that many Australian firms are expanding investment in Vietnam and others plan to enter the country shortly.
The article also emphasized that Vietnam is among appealing destinations for Australian tourists. The country attracted up to 150,000 Australian visitors last year.
Meanwhile, the US’s Los Angles Times said, Vietnam is seen as a top choice for many foreign investors thanks to its highly favorable condition for economic development, especially politic stability and the lowest production cost in Asia.
WTO entry will bring Vietnam both opportunities and challenges, the newspaper said, believing that the country will gain great successes in the global integration if it creates more open policies for foreign investors.
Besides, the French L’echo in its August 17 issue noted that Vietnam has achieved encouraging results in foreign investment attraction $6 billion in 2005, up 36 per cent on year and $3.34 billion in the first seven months of this year, 21 per cent higher than the same period of 2005.
The paper said many giant international firms such as supermarket group Carrefour and retail groups including Wall Mart of the US, Tessco of the UK and Lotte of the Republic of Korea are waiting for investment licenses in Southeast-Asian country.
Many French entrepreneurs in Hanoi believe that France-owned projects on tourism, finance and issuance in Vietnam will help France maintain its position as a leading West European investor in Vietnam.
New opportunities are opening up for French firms in the area of aviation as Vietnam Airlines recently inked a contract to buy 10 Airbus A321s and would consider purchasing Airbus A350s.
According to according to the “Foresight 2020” report by the Economist’s Intelligence Unit (EIU), the world’s leading provider of country analysis, Vietnam is listed among countries with an average level in business risk and lowest security and macro-economic risks in the world.
It also forecasted Vietnam would be one of the fastest growing economies in Asia and the world also in the next five years.
People’s Army, VNA
Vietnamese
