As a panel speaker at the conference, I have shared with the Government and the business community in Vietnam our experience in doing business in Vietnam, and some ideas and recommendations on how the Vietnamese Government can help further improve the business environment for foreign investors.

I also talked about our desire to build sustainable business here and to be the trusted partner of the country, so that we can continue contributing to Vietnam's development. I also, on behalf of the group, expressed my gratitude to the Prime Minister and senior Government ministers for their creating such positive operating conditions for foreign businesses in Vietnam.

What should Vietnam do to better serve international investors?

We see Vietnam having a bright future and an increasingly powerful economic role in the region. However, to run a good business in Vietnam, foreign investors always need to study carefully investment-related information. Therefore, it would be good if the Government could help make the information database and platform more adequate and up-to-date.

Secondly, we hope that the Government can help foreign investors by implementing legal reforms that will make the investment process more transparent and easier to understand and follow.

What is your view about Vietnam's investment environment? Does the Government lend necessary support to investors?

We are always optimistic that Vietnam will have a positive growth story and a very bright political and economic situation ahead. Vietnam has been the most dynamic economy in South East Asia for the past 10 years. With domestic reforms, Vietnam's membership in WTO is providing new opportunities for local enterprises, leading to increased foreign investment.

This together with its rapidly growing economic base and strategic position in the heart of South East Asia means Vietnam is well positioned to take advantage of the emerging new global trade and investment flows.

Could you brief us about the business development of your group in Vietnam?

We started our presence in Vietnam with low-risk operations of exporting products from Thailand to Vietnam. Then we moved further to do some small-scale chemicals production in Vietnam in 1995. Ever since, we have successfully expanded our business into seven business units in building materials, distribution, paper and chemicals, as well as operating two representative offices to help us connect with local partners and initiate local programs.

We always think that Vietnam is the right country to do business with, as it is a growing market with a strategic location close to Thailand. More importantly, we were really impressed with the huge potential of the young generation, which will become a driving force for your nation's development in the future. This is the main reason why we chose Vietnam as our second strategic market besides Thailand, and that's why our first social project here is on education.

And how about the next steps?

SCG is running quite good business in Vietnam with total investment of US$150mil and a workforce of more than 400 people in the country. We are also in the process of applying for an investment certificate for the US$3.7-bil petrochemical project in Long Son in Ba Ria-Vung Tau Province. Construction of the project's phase one is to be completed by 2011, while the total complex will be operational in 2013. I do hope the project will contribute significantly to the development of the petrochemical industry of Vietnam.

What is your advice for new comers to Vietnam?

Investing in a foreign country means that we have less familiarity with the business environment here (compared to Thailand), thereby, we are very careful not to assume that doing business here has the same conditions as in Thailand. We also have to study about the "hard side and the soft side" of the business environment, and it is worth studying the do's and don'ts as well as the legal framework.

Source: SGT