EuroCham suggests nation increase competitiveness

In its booklet to be published on Nov. 27, entitled “Trade Issues and Recommendations”, EuroCham suggests a number of policies to maintain Vietnam’s continued development as a regional investment centre .

The impact of the current global economic crisis on Vietnam has been limited due to the nation’s modest levels of participation in the global financial market and the policies it adopted earlier this year to deal with the domestic crisis, the chamber remarked.

However, EuroCham warns of potential challenges posed by the crisis to the local economy, particularly in terms of foreign investment and exports.

At a time when investors are suffering from the effects of the crisis, it is important that Vietnam adopt measures to maintain its competitive advantages in order to continue attracting foreign investment and even develop rapidly once the global economy recovers, EuroCham President Alain Cany stressed.

Once again, the role of the government is critical in stabilising the economy, promoting growth and minimising any negative effects, the chamber said.

The booklet is published with the support of the Asia Investment Programme, an initiative by the EU to strengthen business cooperation between its members and Asian nations.