Hanoi puts reform on hold, makes spending a priority: Prime Minister calls for continuing assistance to state-owned companies and limit to layoffs

Article Abstract:

Vietnam has reverted back to its insular economic policies, doing away with its promised economic reforms to hold unemployment at bay. Vietnam is going for expediency with its reversion to a controlled economy, hoping that tighter capital controls would protect its currency from speculation and its economy from the Asian financial crisis. Its promise to privatize 6,000 state-owned enterprises at the rate of 150 firms by 1998 has resulted in only 39 firms being privatized. The country is also increasing its speding on the agriculture and natural resources sector to prop up its exports. Vietnam's exports fell to $749 mil in Sept 1998, a 1.2% decrease from Aug. 1998.

Financial management, Vietnam, Economic Development NEC

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Collapsed deal casts a pall

Article Abstract:

Vietnam's $1.3 billion oil refinery project, the first ever planned for the country, will not push through because the government does not want to provide the investor security on retail oil prices, tax concessions, and assistance on infrastructure. A banker said that this will prompt other foreign investors to think twice about talks on big projects with the Vietnamese government. Despite Vietnam's economic potentials, big foreign businesses are uncertain about their future in the country due to lack of government support.

Petroleum Refineries, Petroleum refining, Buildings and facilities

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Pigs oink and beer spills, blocking road to progress

Article Abstract:

Vietnam's poor infrastructure hampers the government's efforts to attract foreign investment. Solving the infrastructure issue is made more difficult in light of the Asian economic crisis. Nonetheless, several major government officials are aggressively promoting Central Vietnam as a good place for foreign investment. Leaders of Danang, Vietnam, are pushing to have their city declared as another special economic zone to obtain tax breaks, less costly leases and other benefits.

Administration of General Economic Programs, Area & Regional Development, Foreign Investment Regulations, Management, Foreign investments, Economic aspects, Public works, Foreign investment laws

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