in Ho Chi Minh City on September 9 to discuss the opportunities and
challenges as well as Vietnam ’s policies and measures after the
economic crisis.
Co-hosted by the Vietnam
Investment Review (VIR) and the Association of Foreign-invested
Enterprises, the seminar also served as a forum for the delegates to
analyse the factors affecting the flow of investment and trade.
VIR’s Editor-in-Chief Nguyen Anh Tuan said that the global financial
crisis had many adverse impacts on Vietnam in terms of exports,
foreign direct investment (FDI), the stock market, international tourism
and other fields.
However, Vietnam has managed
to stave off the worst of the economic recession and stabilise its
macro-economy thanks to concerted efforts by the government and the
business community, he said.
Professor Nguyen Mai
noted that FDI is considered the brightest spot in the country’s
economic picture over the past two years, but Vietnam needs to
improve the quality of this capital source.
While
discussing the knock on effects on the stock market, the Vice Chairman
of the State Securities Commission Nguyen Doan Hung emphasised the need
to stabilise the market before implementing long-term targets, including
enhancing the quality of auditing, information and corporate
administration, tightening the supervision and protection of investments
and dealing properly with securities companies suffering losses.
Dr. Le Xuan Nghia, the Vice Chairman of the National Financial
Supervisory Committee, said that Vietnam is likely to face more
monetary risks in the medium term, citing its foreign exchange rates.
The slow recovery of the global economy could hamper
the flow of capital into Vietnam , worsen the depreciation of the
Vietnamese dong and weaken the country’s international balance of
payments, said Nghia./.
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