Post-crisis opportunities, challenges highlighted

03:00 PM @ Thursday - 09 September, 2010
Numerous managers, economists and businesspeople gathered at a seminarin Ho Chi Minh City on September 9 to discuss the opportunities andchallenges as well as Vietnam ’s policies and measures after theeconomic crisis.

Co-hosted by the VietnamInvestment Review (VIR) and the Association of Foreign-investedEnterprises, the seminar also served as a forum for the delegates toanalyse the factors affecting the flow of investment and trade.

VIR’s Editor-in-Chief Nguyen Anh Tuan said that the global financialcrisis had many adverse impacts on Vietnam in terms of exports,foreign direct investment (FDI), the stock market, international tourismand other fields.

However, Vietnam has managedto stave off the worst of the economic recession and stabilise itsmacro-economy thanks to concerted efforts by the government and thebusiness community, he said.

Professor Nguyen Mainoted that FDI is considered the brightest spot in the country’seconomic picture over the past two years, but Vietnam needs toimprove the quality of this capital source.

Whilediscussing the knock on effects on the stock market, the Vice Chairmanof the State Securities Commission Nguyen Doan Hung emphasised the needto stabilise the market before implementing long-term targets, includingenhancing the quality of auditing, information and corporateadministration, tightening the supervision and protection of investmentsand dealing properly with securities companies suffering losses.

Dr. Le Xuan Nghia, the Vice Chairman of the National FinancialSupervisory Committee, said that Vietnam is likely to face moremonetary risks in the medium term, citing its foreign exchange rates.

The slow recovery of the global economy could hamperthe flow of capital into Vietnam , worsen the depreciation of theVietnamese dong and weaken the country’s international balance ofpayments, said Nghia./.

(Source: http://en.vietnamplus.vn)


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