Spanish paper praises Vietnam’s investment
Buenos Aires (VNA) – Spanish newspaper “El Pais” ran an article on May 18 praising the attractiveness of Vietnam to foreign investors, which it says is built on a conflict free, stable and dynamic society and a young population with low-cost labour.
Vietnam has seen a genuine “boom” of foreign investment inflows, from neighbouring countries as well as the US and the European Union, with total commitment climbing close to 20 billion USD while the country’s gross domestic product stayed at 70 billion USD, reported the paper.
“El pais” reviewed important development landmarks of Vietnam during the renewal period, particularly its achievements in poverty reduction and exports growth of mainly rice and farm produce.
While infrastructure is seen as one of the major obstacles for Vietnam’s sustainable development, it is viewed as an opportunity for Spanish businesses. The paper noted a joint venture of many Spanish firms has tendered for construction of a subway system in southern Ho Chi Minh City.
Spanish Téchnicas Reunidas is joining a project to build the first oil refinery in Vietnam with an estimated cost of 400 million USD.
Tourism is also seen as a fast-growing industry in Vietnam and Spanish enterprises want to play their role in promoting the industry.
The article came to a conclusion that Vietnam is steadily ushering in a new development phase with an ambitious target of becoming an industrialised country by 2020 building on a strong foundation of socio-economic progress over the past 20 years and growing interest from international investors.
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