Viet Nam - promising land for foreign investors
Ha Noi (VNA) - Viet Nam offers various business opportunities for foreign investors, Stephen K. Green, Chief Executive of the Hong Kong and Shanghai Banking Corporation (HSBC), has said.
Stephen Green, who came to Viet Nam for the inaugural ceremony of HSBC's Ha Noi branch on Mar. 2, stressed that Viet Nam's legal system and investment environment have improved remarkably over the past four years. He cited the improvement as the major factor behind HSBC's decision to open its second branch in Viet Nam following the one in Ho Chi Minh City, with each capitalised at 15 million USD.
Green said Viet Nam is making steady progress in economic development. According to him, 2004 was a year full of challenges to Vietnamese businesses as they faced fierce competition from other domestic and foreign-invested businesses. The race, he added, pushed them on the path of international integration. Last year also marked Viet Nam's success in economic development, with exports as the key to success.
He also urged Viet Nam to further its renewal process, which has created many positive changes in the recent past. He said the renovation process and process of liberating the economy have made Viet Nam one of the region's fastest-developing economies./.
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