Article Abstract:
Vietnam's primitive infrastructure will require billions in loans from international financial organizations such as the World Bank. Economic development cannot occur until roads, bridges, ports, electrical generation and social welfare have been modernized. However, such aid will not be forthcoming as long as the US blocks it due to disputes arising from the Vietnam War. The Clinton administration has intimated that it may soften US opposition. With outside money, Vietnam's government hopes to replace the country's outmoded command economy with a more market-style system.
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Article Abstract:
Vietnam's strong economic performance in 1992 has given its leaders enough reason to celebrate. The country was able to achieve a trade surplus despite trade sanctions imposed against it by the US. Inflation was also controlled while the currency strengthened with foreign investments pouring in. However, the task of economic development is hardly over as Vietnam continues to deal with low exports, weak farm prices, high unemployment and lack of capital for infrastructure projects.
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Article Abstract:
Vietnam's bright economic prospects are attracting foreign companies into scouting for choice real estate property in the country. However, most of these companies are expressing their reluctance to invest because of inadequate laws on property. Additionally, these companies find it hard to get financing for their planned projects because foreign banks are reluctant to fund large-scale real estate projects.
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