InfoAnda - Vietnam's 'tiger' economy limping: investors

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Yahoo! slammed by China partner for Google support | 17 January 2010
China, India can't stop world contraction: OECD | 20 March 2009
Kenny Chesney claims sixth No. 1 on U.S. album chart | 7 October 2010

Real World contestant sues for $5 million | | 5 May 2010

Forum Views () Forum Replies ()

Read more with google mobile : Vietnam's 'tiger' economy limping: investors

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Vietnam's 'tiger' economy limping: investors AFP - Sunday, December 5 Send IM Story Print Vietnam's 'tiger' economy limping: investors Slideshow: Full Photo Coverage: Business & Economy HANOI (AFP) - – Celebrated as a new "Asian Tiger" two decades ago, Vietnam has lagged behind its neighbours and needs further reforms in order to catch up, foreign investors say. Overloaded infrastructure, an under-qualified workforce, excessive bureaucracy and corruption are just some of the problems investors cite. The hopes and promises of the early 1990s, when the communist nation abandoned a planned economy for the laws of the market, have not been realised. "Most investors agree that Vietnam has huge potential," says Adam Sitkoff, executive director of the American Chamber of Commerce Vietnam (AmCham). "However, the country is struggling to live up to its full potential, hindered by slow progress on a list of perennial barriers to investment." Over the past two decades Vietnam has been among Asia's fastest-developing countries, with average annual growth of 7.1 percent between 1990 and 2009, according to the Asian Development Bank. With a per capita income of about 1,200 dollars, the nation of 86 million people is now a "middle-income" country, according to World Bank criteria. But Vietnam remains far from resembling Taiwan, Singapore or South Korea, whose fast growth earned them the label "Tiger" economies, and whose success it dreams of emulating. The country "risks falling into the 'middle income trap', the inability to arise out of an economy based on cheap labour and low-technology manufacturing methods," said Matthias Duhn, executive director of Eurocham, the European Chamber of Commerce in Vietnam. The warnings come just before a five-yearly Communist Party Congress, expected in mid-January. A gathering as opaque as it is fundamental, the Congress will determine key political posts for the next five years, as well as the country's main "economic themes", said Benoit de Treglode, director of the Research Institute on Contemporary Southeast Asia (IRASEC) in Bangkok. The international community has stepped up reform calls in the weeks before the congress, hoping they would be heard by the top leaders, he said. Foreign business leaders re-emphasised their concerns on Thursday at the twice-yearly Vietnam Business Forum, held by the World Bank and Vietnam's Ministry of Planning and Investment. They urged infrastructure development, upgrading workers' skills, streamlining bureaucracy and other reforms. The chairman of AmCham also told the forum that Vietnam has violated its World Trade Organization commitments with a new price control law targeting overseas firms. Some officials close to the regime admit the need for reform. "Too much attention has been given to the increase of investment rather than that of quality, productivity, efficiency and competitiveness," Tran Tien Cuong, of the Central Institute for Economic Management (CIEM), was recently quoted as saying in the state Vietnam News. Eurocham cites estimates that Vietnam needs around 70 to 80 billion dollars of investment in road, rail and seaport infrastructure in the next five to 10 years. The figure rises to 120 billion dollars if energy infrastructure in the power-short nation is included, it said. Other obstacles include endemic corruption and the instability of the Vietnamese currency, the dong, which has been devalued three times since late last year. Serious concerns have also emerged in recent months about the financial health of big state conglomerates. While Vietnam Airlines stands out as a regional player, investors wonder whether other state-owned firms are in the position of Vinashin, Vietnam Shipbuilding Industry Group. The company has been driven to the brink of bankruptcy with debts of at least 86 trillion dong (4.4 billion dollars). AmCham's Sitkoff regrets that the state sector continues to play a dominant role in the economy. "Investors wonder which over-extended state-owned conglomerate will be the next to fail, or which will be forced into taking bad assets onto their balance sheets," he has said. Vietnam has always introduced reforms at its own pace -- slowly and carefully. But IRASEC's de Treglode said the requests of the international business community have increased resonance ahead of the Communist Party Congress. With one million young people entering the job market annually, the ruling party, concerned about maintaining its power, "is not in a position to close the door" on the foreigners' suggestions, he said. Recommend Send IM Story Print Related Articles Ancient relics will delay huge Afghan copper mine Reuters - 17 minutes ago Israeli cable firm HOT gets ISP license, refinances Reuters - 25 minutes ago BAY STREET-Oil plays to drive Canada 2011 energy IPO activity Reuters - 30 minutes ago Spain counts the costs of air controller strike Reuters - 44 minutes ago Russia's X5 retailer buys rival Kopeika Reuters - 58 minutes ago News Search Top Stories Cancun climate talks enter final stretch Iran declares nuclear 'self-sufficiency' ahead of talks Mbeki to mediate I.Coast 'two presidents' standoff Ireland facing tough annual budget to secure bailout Ex-fugitive Nadir threatens to sue British police More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended NASA finds new form of life... on Earth WikiLeaks arrest looms as site fights to stay online Ex-fugitive Nadir threatens to sue British police Madrid forces end to air controllers strike Obama on surprise Afghanistan visit, says US winning war More Most Viewed » NASA finds new form of life... on Earth Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Obama gets 12 stitches after 'elbow in the lip' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 5 December 2010
Iran tells Gulf Arabs it is no threat to region
Madrid forces end to air controllers wildcat strike
Deadly Israeli fire rages on despite global aid |
Deadly Israeli fire rages on despite global aid
Serbs stick with Zimonjic and Troicki for doubles
Greek police find suspected guerrilla arms cache |
Two killed as plane makes emergency landing in Russia
Gbagbo denounces foreign 'interference' in I.Coast
Iran welcomes talks with world powers
Israel arrests two suspects in deadly fire
Netanyahu and Abbas hold rare phone chat over fires
Kenyan forces kill five Ethiopian rebels |
Afghan president doubts credibility of US leaked cables
Iran will 'never use' force against Muslim neighbours
Sudan's south rejects bid for delay of January 9 vote |
Iran pilgrims among 13 dead in Iraq bombings
Al Qaeda planned to kill Saudis with poisoned gifts
Polanski's 'Ghost Writer' top contender at Europe's Oscars
Disney sells Miramax to Qatar-linked group
Google to buy anti-piracy software firm Widevine |
New Mel Gibson movie finally heads to theaters |
Suspected Russian spammer denied bond: report
PayPal suspends WikiLeaks donations account
Russian 'spy' found in British parliament
Polls open in Egyptian run-off parliament vote
Cold snap, air strike and floods bring chaos to Europe
Spain reopens airspace after controllers' strike |
WikiLeaks faces donations blow as it fights for survival
Egypt vote leaves near single-party parliament
Ireland facing tough annual budget to secure bailout
CrowdFlower cultivating office-free work styles
China Internet cafe explosion kills 6, injures 37: report |
Ex-fugitive Nadir threatens to sue British police
Hosni Mubarak party to sail through boycotted Egypt vote
Deadly Israeli fire rages on despite global aid |
Madrid forces end to air controllers strike
Spain eyes role in Costa Rica-Nicaragua border spat
US-TECH Summary
Afghan minister disputes US diplomatic cable
Polls open in Egyptian run-off parliament vote |
Two killed as plane makes emergency landing in Russia
Thabo Mbeki to mediate Ivory Coast poll row |
Sudan's south rejects bid for delay of January 9 vote
Russian airliner makes emergency landing, 2 dead |
WikiLeaks boost for Singaporeans
South Korea appoints new defence minister
Outpouring of love as Thais celebrate King's 83rd birthday
Cambodian refugee goes home as US Navy commander
The Sultan and I have no qualms: Indonesian President
Responders head to disabled ship in Bering Sea
Nepal's gentle giants do battle on the polo field
Indonesia creates team to study WikiLeaks cables
US-ENTERTAINMENT Summary
S.Korea lawmakers call US trade deal 'humiliating'
Aretha Franklin "doing very well" after surgery
Australia Outback could soon get web via TV aerial
Polanski's 'Ghost Writer' steals the show at Europe's Oscars
Pietersen swells England's Ashes lead with double hundred
India's Tata plans hiring spree in Detroit
Luanda's Triennial boosts Angola's nascent art scene
US, key Asian allies to forge strategy on N.Korea
New Mel Gibson movie finally heads to theaters
China's skyscraper boom buoys global industry
Filipino justice head wants to arm lawyers, judges
S.Korea parliament closer to sukuk issues approval
Bangladesh's Grameen Bank denies wrongdoing
Sarkozy pushes defense, nuke cooperation in India
Aretha Franklin doing very well after surgery |
Human error 'to blame for Russian plane crash'
At least two killed in Afghan suicide blast
Russian spy uncovered in British parliament |
Hunt for WikiLeaks founder 'politically motivated'
Iran declares nuclear 'self-sufficiency' ahead of talks
Defiant Iran reports nuclear advance before talks |
Cancun climate talks enter final stretch
Defiant Iran reports nuclear advance before talks
Mbeki to mediate I.Coast 'two presidents' standoff
Suicide attack kills 4 near NATO base in Afghanistan |
Egyptians vote in run-off after opposition quits
North Korea says South's drills provocative |
Iran to process its own raw uranium yellowcake
Hong Kong protesters demand China free Nobel winner Liu |
Bomb blast hits eastern Afghan army base, kills 2
Saudi nabbed 2,000 at Yemen border per day: cable |
Egyptians vote in run-off after opposition quits |
Sarkozy and wife hit tourist trail in India
China Internet cafe blast kills 6 and injures 38
Seven killed in China cybercafe blast
Taiwan warned against jailing ex-leader's wife
Tow vessel reaches struggling ship in Bering Sea
Thai king leaves hospital for 83rd birthday
US Navy commander returns to Cambodian roots
Malaysian police fire tear gas on opposition protest
Obama touts S.Korea trade deal, looks for more
WRAPUP 2-Obama touts S.Korea trade deal, looks for more
Malaysia PM launches Anwar attack ahead of polls
Suntory to tie up with SKorea's OB: report
Land disputes hit Indian infrastructure schemes
Vietnam's 'tiger' economy limping: investors
South Korean trade minister defends deal with US
Brazil's Vale says HK shares to start trading
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01