Ha Noi (VNA) - Preben Hjortlund,
Chairman of the European Chamber of Commerce (Eurocham) in Viet
Nam said he expects that the relations between Viet Nam and
European countries, that have been growing well, especially after
the European Union (EU)'s admission of ten more member countries,
will see further development next year.
Hjortlund based his expectation on the EU's lifting of quotas
on Vietnamese textile and garment products as of Jan.1, 2005 and
the fact that the bloc is currently Viet Nam's largest investor
and donor.
The Eurocham chief hoped to see more investment from the EU's
newer member countries into Viet Nam and from Vietnamese companies
into the EU. He also expected the two countries' cooperation in
culture to develop next year.
The year 2004 saw great socio-economic development in Viet Nam,
Hjortlund said, adding that he was impressed with the 4 billion
USD foreign direct investment (FDI) flowing into Viet Nam, of
which half is new and half, additional investment. The figure
revealed foreign investors' growing confidence in the Vietnamese
investment environment, the Eurocham official said.
He also said the trade surplus in 2004 is another good sign, as
a larger share of Vietnamese exports are coming from
foreign-invested enterprises, which shows that the Vietnamese
Government has created better conditions for foreign-invested
enterprises to do business.
Regarding the prospects for Viet Nam's economy in 2005, he
stressed that economic growth in the fourth quarter of 2004 being
much higher than the first quarter was a good sign for the
beginning of 2005. He said he believed that "there will be
more investment, more trade, better conditions for foreign
investment, and better conditions for the domestic private
sector."
Regarding opportunities for and challenges to economic
development facing Viet Nam and other regional countries, he said
that Viet Nam should overcome the perception that 2005 will be
like 1945 because of the rumour that economic problems occur in 60
year cycles. He said he sees no indication that this will happen,
and although believing in long term cycles, he nonetheless said
that Rooster 2005 will be a good year. All the surrounding
countries have good prospects, and as China will reduce its too
high economic growth, he said, this will be good for Viet Nam.
However, he said, an important challenge for Viet Nam is the
implementation of laws and regulations approved by the National
Assembly, adding that tax laws, and import-export laws need more
attention. Additionally, the government should have more
incentives for foreign investors than neighbours that help attract
investment, because there is stiff competition among regional
countries, he added.
In 2005, Viet Nam needs to complete negotiations with major WTO
members including China, Japan, Australia, Canada and the US. He
went on to say that Viet Nam must ensure that laws and regulations
comply with WTO's conditions and meet its commitments. He said he
believes that Viet Nam will be a WTO member soon.-Enditem
