The 2011 Vietnam Business Forum “Overcome 2010 – Long-term target for Vietnam” was held in Hanoi on May 27, to discuss issues related to macro economy, environmental investment, banking sector, capital market, infrastructure, human resource development and administrative reforms.
Representatives at the 2011 Vietnam Business Forum
Alain Cany, Chairman of the European Chamber of Commerce (EuroCham) in Vietnam, said members of EuroCham are concerned about Vietnam’s devaluation of the dong even though the US dollar has become weaker.
He also said that in 2010, power supply to each company had reduced from 50 hours in 2009 to 89 hours in 2010. Besides, Vietnam also needs to improve the quality of its labour force, simplify administrative procedures and combat corruption.
Christopher Twomey, Chairman of American Chamber of Commerce (AmCham), thought Vietnam needs to apply international financial and accounting principles to minimize inflation.
Delegates at the forum also focused on ways to attract investments, control inflation, stabilize the foreign exchange market and increase foreign currency reserves.