VIETNAM, AN APPEALING ASIAN MARKET: PWC

BERLIN, Apr 18, 2008 (AsiaPulse via COMTEX) -- -- Vietnam has emerged as one of the most attractive markets in Asia with an annual average growth of 8 per cent and drastic economic reforms, said an executive of the global leading financial and credit service provider PricewaterhouseCoopers (PWC).

Speaking at a seminar held in Germany on April 16, PWC Export Credit Guarantee Division Head Manfred Bruer said Vietnam topped the EM 20 Index that ranks 20 key emerging markets according to their attractiveness for overseas investment, and is a good premise for German exporters and investors to come to the promising market.

Vietnamese Ambassador to Germany Tran Duc Mau said Vietnam always rolled out red carpet to welcome German investors, noting that the country has spared no efforts to speed up economic reforms and ensure sustainable growth.

The diplomat stressed that Germany is Vietnam's important partner and is able to give a helping hand to the nation's economic development.

According to a representative from the German Chamber of Commerce and Industry in Vietnam, Jan Noether, an increasing number of German firms have flocked to do business in the Southeast Asian country.

However, Noether also pointed out challenges facing Vietnam such as poor infrastructure and services, energy shortages, high office rents and inflation, red tape and corruption.

Many German entrepreneurs presented prospects for cooperation between businesses from the two countries as well as requirements for the growing flow of German investments, particularly in energy, infrastructure, water supply, environmental protection and banking.

The workshop, co-hosted by PWC and the credit insurance company Euler Hermes (EH), brought together representatives from 70 local companies and banks, including Siemens, BMW, ThyssenKrupp, Daimler, Commerzbank, Hypoverreinsbank.

(VNA)

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