Vietnam’s competitiveness not declining; finance minister
It was “not accurate” to say Vietnam’s competitiveness is declining as in a recent report by the World Economic Forum, said Vietnam’s Finance Minister during the 6th National Assembly session Oct. 25 in Hanoi.
The competitiveness of Vietnam’s economy is improving although it is not really excellent, Finance Minister Nguyen Sinh Hung told the press on the sidelines of the NA session.
Vietnamese ministries, sectors and domestic businesses have the same opinion, Mr. Hung said.
On Oct. 14, the Geneva-based World Economic Forum (WEF) released its 2004 competitiveness report, which showed Vietnam’s competitiveness as ranking quite low compared with other countries in the world over the past year.
According to the reports, Vietnam’s Growth Competitiveness Index – GCI - was ranked 77 out of 104 economies, while it’s Business Competitiveness Index - BCI ranking was 79 out of 103 countries. Last year’s rankings were 60 out of 102 and 50 out of 95 respectively.
WEF reports were based on its inspections of a small number of businesses, Mr. Hung said. He also added that whoever comes to Vietnam will offer positive comments on the country’s present investment environment.
However, WEF reports will have a negative impact on those who haven’t yet come to Vietnam, the Minister said.
Reported by T.Nhung – Translated by Hieu Trung.
Story from Thanh Nien News
Published: 26 October, 2004, 02:49:32 (GMT+7)
Copyright Thanh Nien News
