Vietnam safe for foreign businesses: economic think tank
06/08/2010 - 308 Lượt xem
The report said that Vietnam’s economic stability would be maintained, and that security risks were low impacting economic activities and foreigners.
In its report, Foresight 2020: Economic, Industry and Corporate Trends, EIU also predicted Vietnam’s economy would develop most strongly in the period 2006-2010.
Vietnam’s annual economic growth rate is forecast to be 7 percent in the 2006-2010 period, ranking second, after China and above India (6.6 percent), Indonesia (5.6 percent), Malaysia (5.3 percent), and Thailand (4.5 percent).
Also, the EIU’s research group forecast Vietnam’s GDP would reach US$85.3 billion, and its per-capita income would be $970, if based on the foreign exchange rate in 2010.
If based on the purchasing power parity (PPP) exchange rate, the country’s 2010 GDP would reach $415billion, and its per-capita income $4,550.
Foreign direct investment (FDI) in Vietnam is expected to be $3.4 billion by 2010, accounting for 32.5 percent of the country’s GDP, with $28.1 billion in foreign debts.
Warning
Though having positive evaluations on Vietnam’s economic prospects in the next decade, EIU also warned the Asian nation of some matters, particularly corruption.
It said though the country had already approved the Anti-Corruption Law, there are still concerns over the independence of the National Steering Committee in charge of cracking down on corruption.
According to EIU, the Vietnamese government has made efforts to solve many matters through administrative reform.
However, the administrative reform progress has proceeded at a snail’s pace, adversely impacting business activities.
The EIU report aims to assess the economic prospects of countries up to the year 2020.
More than 1,650 senior executives, analysts and policymakers from across the globe took part in a survey and a series of in-depth interviews conducted for the report.
Source: Sai Gon Giai Phong
