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Vietnam competitive ability announced

In Uncategorized on December 16, 2010 at 9:34 am

A report on Vietnam competitive ability, an independent research of leading international and domestic experts, was announced for the first time in Hanoi on Tuesday.

Michael Professor Michael E.Porter reports a research on Vietnam competitive ability in Hanoi on November 30 (Photo:

The report, conducted by experts from the Asia Competitiveness Institute and the Central Institute of Economic Management, was presented in over two hours by Professor Michael E.Porter, who has been recognized as the farther of the modern strategy field.

Accordingly, Vietnam’s macroeconomic policy in recent years is a big weakness. The country’s fiscal policy has been obstructed with mechanism deficit of the State sector.

The currency policy has showed a lot of problems like continual pressure on the exchange rate, high inflation rate as well as the hot development of the financial market before the outbreak of the global financial crisis.

Meanwhile, the investment effectiveness on the infrastructure, roads, ports, airports and energy to the socioeconomic development has been low. The infrastructure investment has mainly aimed to make up for provinces with bad growth.

In addition, although the number of Vietnam’s education and training programs has rocketed, their quality is poor and different among schools.

Besides the report announcement, a round table meeting was hosted to seek for a new development strategy and modal for Vietnam with the attendance of Professor Michael E.Porter, Government Office Chairman Nguyen Xuan Phuc and Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc.

Also attending the meeting were director of the World Bank in Vietnam V. Kwakwa, general director of Intel Vietnam Rick Howarth, and deputy chairman of Vietnamese Young Businessmen Association Nguyen Manh Cuong.

The most notable of proposals they made is that Vietnam should enhance competitive ability by improving labor productivity, investment effectiveness and the economy’s output. Additionally, the country should solve issues in infrastructure, working skills and administrative procedure innovation.

Another proposal is that Vietnam should establish a national competitiveness council to regulate and gather projects, scattered in ministries and departments, and to monitor and estimate the implementation of them.

Deputy Prime Minsiter Hoang Trung Hai said that the report on Vietnam competitive ability has a lot of points matched with the government’s socioeconomic development plan for the phases 2011-2015 and 2015-2020.

The fast and stable growth and macroeconomic balance should be based on a business environment with high increase of productivity, technology and value.

Vietnam would consider the establishment of the national competitiveness council.

The same day afternoon, Prime Minister Nguyen Tan Dung received Professor Michael E.Porter in Hanoi.

Source: SGGP

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