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VietNamNews

Internal problems hold back investors

Update: December, 03/2012 - 11:14

HCM CITY (VNS) — Viet Nam has many problems that prevent it attracting FDI from Europe, according to Whitebook 2013 put out by the European Chamber of Commerce in Viet Nam.

The chamber launched the fifth edition of the Whitebook of Trade/Investment Issues and Recommendations in HCM City last Friday.

The edition covers industries that its 800 member companies are involved in, including pharmaceuticals, consumer goods, energy, telecommunications, the automotive industry, tourism and banking.

The book talks of major issues affecting European businesses operating in Vietnam. It says that over the past year, the Government has had great success in controlling inflation but there remained many problems that needed to be solved to attract foreign direct investment from Europe.

The book reveals practical issues and proposals in areas of personnel training, transport delivery, information technology, pharmaceuticals, food-nutrition, and the tourism, restaurant and hotel sector.

Chamber executive manager Paul Jewell said his organisation had faith in recent developments, especially the beginning of negotiations for a Free Trade Agreement between Viet Nam and the EU.

If the Government addressed issues raised by the business community and a comprehensive FTA was reached, Viet Nam would become a strong nation in the region, he said.

FDI would continue increasing as European businesses recognised Viet Nam as a gateway to the ASEAN market, Jewell said. — VNS

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