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It's been a tough few years for investors in Vietnam, what with sky-high inflation, a slidingcurrency, soaring bank debt, and an unproductive economy dominated by state-ownedenterprises (SOEs). It's little wonder that many investors have headed for the door in recentyears. About 100,000 Vietnamese companies have folded in the past two years (which is equalto half of all the companies that have closed down over the past two decades). The once-booming property market has crashed. Last year, the economy expanded at its slowest pacesince 1999.
But could Vietnam finally be turning a corner, having fallen so far from grace? Inflation, evenas it remains elevated, has steadily subsided. The currency, for the first time in many years, isnow stable. Much of this is the result of the government's new approach to policy-making,which is focused more on stability rather than on rapid growth at all costs. Vietnam's leadersalso appear increasingly committed to restructuring the economy, cleaning up the banks,reforming SOEs, and boosting local employment. And as a result, some investors are comingback: foreign investment in the first quarter of 2013 grew by a solid 7%.
After all, Vietnam still holds promise of becoming a spectacular investment destination. Itslarge, youthful population is certainly a big draw: as wage costs rise sharply across many partsof Asia—especially in China and Indonesia—Vietnam is becoming more cost-competitive as amanufacturing base. Moreover, with its middle income set to quintuple over the next fiveyears, Vietnam remains a highly attractive consumer market.
Yet, there are enormous challenges ahead for the communist-ruled economy.
Join us as we discuss:• The progress of Vietnam's economic reforms, and debate whether they will succeed in
lifting investor confidence in the country's growth prospects• The opportunities and risks of doing business in Vietnam• Whether Vietnam has got what it takes to attract manufacturing firms relocating from China
Note: These meetings are limited to senior-levelexecutives of an organisation. Per invitation only
Events and calendars will soonbe available via ECN's new webapp. For access, please contactus at [email protected]
Friday April 26th, 2013. Crescent Ballroom, Four Seasons Hotel, Singapore.8.00am - 8.30am Registration & breakfast | 8.30am - 10.30am Meeting & presentations
Stuck in a jam?Could Vietnam's economy be ready to flow again?
Justin Woodchief economist, South-east AsiaEconomist Corporate Network
Deepak Mishralead economist, VietnamWorld Bank
Nguyen Xuan Thanhdirector, public policy programmeFulbright School, Ho Chi MinhCity
Uday Martymanaging directorSouth-east AsiaIntel
Speakers:
