Investment Policy Review of Viet Nam

Geneva, 11 February 2009 - Viet Nam should widen the scope of its efforts to promote and attract foreign direct investment (FDI) to the services sectors in order to continue on its fast development track, UNCTAD recommends in its Investment Policy Review . This study was presented in Geneva on 9 February 2009 during a working session with Deputy Prime Minister Mr. Hoang Trung Hai, Vice-Minister of Planning and Investment Mr. Nguyen Chi Dzung, and Vice-Minister of Industry and Trade Mr. Do Huu Hao.

As pointed out in the Investment Policy Review, Viet Nam has undergone an extraordinary economic transformation since it began its transition towards a market economy in 1986 under the "Doi Moi" (renovation) process. The decision to allow private enterprise, the opening of the economy to trade and foreign investment, as well as other structural reforms, fostered industrialization and wealth creation. Poverty plagued more than 60 per cent of the population in 1986, but less than 20 per cent of Viet Nam´s 84 million people were living below the poverty line in 2004.

The Investment Policy Review (http://www.unctad.org/ipr) makes a thorough assessment of investment regulations in Viet Nam. It provides concrete recommendations on what the Government could do to build on the achievements of the past decades, to pursue further reforms to the investment climate, and to attract higher levels of beneficial foreign direct investment. As indicated by the Singaporean ambassador during the meeting, a favourable investment climate is always a work-in-progress that needs constant improvements. This remark is particularly true in the context of the current world recession, which will imply a sharp fall in global flows of foreign direct investment.

Participants from private companies pointed out that Viet Nam that the country competes globally, and against its partner countries in ASEAN, to attract FDI, and that it needs to continue improving its business climate, particularly in the current context of global financial and economic crisis.
Think Global Act Local!

Hello Gorilla

There is a 800lb Gorilla in the room and no ones paying any attention. Stark County is in a depression and instead of the communities using logic to develop real economic development they play school yard tactics and spin the word economic development to assure the public that these annexations, levies and any other sock it to your pocket is in our best interest.
The fact is we are not cost competitive on a global scale. The US has a corporation tax of 35%, were as China and other areas have 20%. http://www.nber.org/tmp/80210-w13756.pdf
Ohio has an additional 5.1% tax, creating a 38.1% overall corporation tax. Now factor in any additional tax like Canton City 2% then it becomes identifiable why businesses begin to seek better potentials, especially across the pond.
In South East Asia the average educated on the floor worker makes $80 USD and the front office worker with a Bachelors degree makes $700 to $900 USD a month. The total burden rate for a company is approximately $30,000 USD. For many US businesses the average insurance for a hundred employees and familys was $30,000USD in 2006 and has increase 20% per year.
There are other factors to our community’s troubles such as the infrastructure for mass transits, the high cost of worker’s compensation, higher wages and benefits, lower educational attainment of the workers and this list is just the beginning.
We need to reform our thinking to become globally competitive in order to attract and retain businesses to spark those monies for government, schools and other projects that we have become accustom too.
Hello Gorilla.

I am running for Canton City Ward 7 Council

ENOUGH with business as usual! Everyday, wasted local Government practices, steeped in tradition and old ideas, hinder our communities forward developments and stagnate our growth against our global rivals.
It is time to draw upon modern day talent with real knowledge about the global economic environment and how it does affect us. It is time to repurpose ourselves with new foundations so we can be in the front of the line for economic growth toward our sustainability.
There is a substantial degree of information that I have obtained.
For the past two years, I have spent countless hours reviewing online economic publications and participating in economic seminars as well as traveled internationally and nationally comparing my data. This diverse knowledge has motivated me, with due diligence, to produce my own economic development strategies in order to Stay Competitive with the Global Economy.
My Fresh and Efficient Perspective is in order to Create Jobs, Retain Businesses and Provide Stable Solutions.
I am very concerned and empathetic toward the economical hardship that Canton and Stark County continues to contend with and understand the significant difficulties that its citizens persistently bear.
I have a passionate interest with experience in economic development. My Realistic Concepts can be implemented and streamline our economic progression even while in our current financial difficulties and that is why I am Running for Ward 7 Councilman.
I look forward to sharing these concepts as well as look forward toward discussing your thoughts with me.

With Imagination, Courage and Fortitude for Mankind

Shane Wyatt McCartney
www.mccartneyforcouncil.com