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Vietnam For Business, A Rising Star

646 words - 3 pages

Journal Date: January 30, 2003Title: "Vietnam for Business, A Rising Star", Far Eastern Economic Review,January 30, 2003Author: Margot CohenPage: P.12-15Summary:After the Vietnam War almost 25 years, there has a great improvement in the Vietnam, no matter on economic, political or infrastructures. Within the 1990's, the economy of Vietnam is revived again. In the past, Vietnam is just a poor and undeveloped village. Most of the people there are non-educated, and lack of the sense of improvement, even in nowadays, the old generations of Vietnam are still focusing and deploring about the Vietnam War and sometimes lack of the attention on their country's economic performance.However, everything is different from the past. The new generations of Vietnam are more focusing on the truth; they know that improving the country's economy is the only way to improve the ...view middle of the document...

However, Vietnam surprisingly had an unpredictable result, the investment from other companies rapidly increase. Not only the investment from European or American companies, but also most of the Asian companies, such as Taiwan, Japan, Malaysia, Singapore, etc.Reebok and Nike, company of producing sneakers, are also setting up their factories in Vietnam. One of the inviting for Vietnam to attract foreign investors to invest is the lowest wages of Vietnam in Asia and the higher productivity. The wages and productivity in China had already been the attractive point for foreign investors, but in Vietnam the wages are even lower and the productivity are higher than China. So, this is why investors believe that Vietnam has the potential to develop and put their money to invest.Actually, the marketing of Vietnam may not be as large as China, but the potential of manufacturing and processing for export is very high. Therefore, most of the companies are exporting their goods to other Asian countries from Vietnam. At the past, the police of the government in economy was not completed, therefore, investors to invest there would be have a greater risk, some of them need to put money to help the country to build the road, school, hospital or other infrastructure. Moreover, the foreign investors should not totally own their whole firms and need to have joint venture with the government, this make many investors saddled.Fortunately, everything is different now. Vietnam is following the policy of China, and the result of these policies is obviously success. According to the statistic, the foreign-invested projects are rise 32% from 2000-2001, and it would be expected even well in the future. Some of the companies can make profit and approaching the 70% of profit in China. Although, in the past, Vietnam was just a poor country, even unable to protect her citizens, everything change everyday, in the future, Vietnam probably become one of the important economic countries in Asian!

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