Vietnam pledges closer co-ordination to overcome crisis

A senior Vietnamese government official confirmed at a business conference in Ho Chi Minh City that Vietnam will work closely with other Asian countries to weather the difficulties caused by the global economic crisis.

At the opening session of the 19th Asian Business Conference on April 23, Deputy Minister of Planning and Investment Cao Viet Sinh said that the Vietnamese government is making an all-out effort to prevent economic decline and giving this its top priority at the moment.

He introduced the Government’s short-term solutions such as stimulating investment and consumption, pouring more investment into socio-economic infrastructure and in rural areas and speeding up capital disbursement for projects using various sources of investment.

To retain the country’s attractive investment and business environment, the government is also making medium and long-term moves, said Mr Sinh. He went on to mention the speeding up of the construction of expressways, seaports, and airports, improving the quality of human resources and the restructuring of the national economy to sharpen the country’s competitive edge.

Addressing the conference, Deputy Prime Minister and Minister of Education and Training Nguyen Thien Nhan presented several measures that the country is pursuing to tackle the global economic recession, including assessing the performance of commercial banks, maintaining the balance of trade, increasing foreign currency reserves and practicing thrift in State businesses.

He also called for foreign investors to come to the country and pledged to provide them with the best conditions if they decide to do business here.

The two-day conference, jointly organised by the US’s Asia Society, the Vietnamese Ministry of Planning and Investment and the Wall Street Journal Asia, brought together more than 1,100 government officials, economists, businesspeople, investors, and journalists from inside and outside Vietnam.

The conference’s eight discussions will deal with the long-term consequences of  the global economic crisis in Asia, the future of Asian cities and the new generation of Asian entrepreneurs as well as Vietnam- a rising star. (VNA)

• PM pledges better conditions for Chinese investors -08/05/2009
• Ha Noi puts freeze on new building permits -08/05/2009
• Domestic market and trade promotion programme 2009 launched -08/05/2009
• April CPI increases by 0.35% -08/05/2009
• FamilyMart eyes Vietnam’s potential market -08/05/2009

• Golf course chemicals may pollute water -08/05/2009
• Vietnam earns US$18.63 billion from exports in four months -08/05/2009
• Vietnam, Indonesia promote economic ties -08/05/2009
• EuroCham: Vietnam safe for overseas investors -08/05/2009
• ADB grants a US$25 million loan to support SMEs -08/05/2009