JETRO: Vietnam’s economy recovers rapidly

January 28, 2010

An official from the Japan External Trade Organisation (JETRO) has hailed Vietnam’s stimulus policies and its rapid economic recovery.

“Compared with the stagnant economies of developed nations, the tempo of economic recovery in Vietnam is extremely fast,” said Managing Director of the JETRO Office in Hanoi Yoshida Sakae in an interview granted to Thoi bao Kinh te Vietnam (Vietnam Economic Times) on Jan. 26.

Powered by Vietnam’s economic restoration, Japanese companies operating in the country have recovered over 80 percent of their production output and many of them are recruiting more workers, he said.

Since mid 2009, the JETRO Hanoi Office has received an increasing number of applications for consultancy for new projects, the official said, adding that Japanese enterprises have always considered Vietnam “a firm manufacturing base and consumption market in the long run,” the official added.

Regarding the inflow of foreign investment, Sakae said the implementation of the action plan of the Vietnam-Japan Joint Initiative would improve the investment environment and increase the number of Japanese projects in Vietnam.

The strict fulfilment of its commitments to the World Trade Organisation (WTO) will help Vietnam attract more foreign investment, he said.

However, the JETRO official also recommended that Vietnam continue improving the quality of human resources and simplifying administrative reforms in the coming time.


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