Foreign investors to expand operations in Viet Nam
Ha Noi, Dec. 12 (VNA) -- Eighty percent of 124 respondents of a poll of business sentiment said that they planned to expand company operations in Viet Nam in the next three years because of the country's positive long-term outlook, a growing local market and political stability.
The poll was conducted by a forum of business leaders, international donors and government officials ahead of the annual Consultative Group Meeting held in Ha Noi on Dec. 10-11.
The survey reflects a marked change in business attitude from several years ago, when reforms and Viet Nam's reputation for red tape drove off foreign investors.
Viet Nam's foreign direct investment plunged considerably from 1997 to 1.08 billion USD in 2001, but the trend has begun to reverse as Ha Noi's leaders have improved conditions for business, passing new initiatives supporting private enterprise, cutting red tape and easing investment regulations.
The domestic private sector has boomed since the enactment of the Enterprise Law in early 2000, generating jobs for over 5 million people and recruiting hundreds of thousands of new workers each year.
Investor interest in Viet Nam was also rekindled by the passage last year of an agreement normalizing trade relations between Viet Nam and the U.S.
