Foreign investors need better infrastructure

Foreign investors need better infrastructure

08/01/2008 -- 7:18 PM

Ha Noi (VNA) – Many foreign investors attending a two-day international conference on Viet Nam’s economic policy in Ha Noi agreed that infrastructure development is an important requirement for further growth of the Southeast Asian country.

“Well-developed infrastructure will help Viet Nam make further progress,” Christian Fredrikson, Director of Nokia Siemens Networks in Asia-Pacific, said on the sidelines of the Business Roundtable with Vietnamese Government that opened on January 8.

According to Kamlash Patel, Strategy and Business Development Director of Nokia Siemens Networks, like other foreign businesses, his company expects a better infrastructure in Viet Nam , including telecommunications infrastructure.

Viet Nam had 33 million telephone subscribers in 2007 and the number of Internet users currently stands at more than 18 million. The impressed growth proves Viet Nam ’s progress in narrowing down the digital gap with other countries.

“However, infrastructure in both urban and rural areas need to improve as the economy now develops strongly,” said Patel.

Stuart Dean, President of General Electric, agreed that infrastructure development is an urgent need in Viet Nam and he would want to know how far the country will go in this area.

Meanwhile, Charles Goddard, Asia-Pacific Editorial Director of Economist Intelligence Unit – a global information supplier, warned that insufficient and slow infrastructure investment may hinder the country’s economic development.

As part of concerted efforts to boost socio-economic development, the Vietnamese government is focusing on luring foreign investment into transport infrastructure and power projects.

Deputy General Director of KPMG Viet Nam Tim Aman praised Viet Nam ’s new approach, saying it helped bringing more foreign investors.

Senior government officials and representatives from 500 foreign companies are attending the roundtable “ Viet Nam : Asia’s Rising Star,” held by The Economist and Vietnamese Foreign Ministry.-Enditem

(VNAgency)