Vietnam economy woes temporary, foreign investors say

Thomas Tobin, general director of HSBC Vietnam, said Vietnam would return to a high-growth path in future. Its banking and financial sectors are at the development stage, making them very promising, he said. 

With the Government increasingly self-motivated about trade liberalization and market reform, he said he strongly believes in the long-term prospects of the Vietnamese economy. 

David Wong (R), general director of Vietnam Manulife

But he believes that in the next three to five years Vietnam would achieve the fastest growth  rate in Southeast Asia. 

Ba Dah Wen, general director of property developer Phu My Hung Joint Venture Company, assured that Vietnam’s difficulties would not last long. 

She said it has been affected because of its increasing integration in the global economy, with Vietnamese companies having to compete with large international players. 

The Government and people have stepped up their dialogue on the economy and joined hands to tackle inflation and other problems, she said. 

Growth would soon resume and Vietnam remains a an attractive destination for foreign investors and companies, she added.