ECONOMIC EXPERT HARRIET MCFADZEAN FROM MEKONG ECONOMICS CO., LTD. VISITS CVSEAS

On November 15Dr. Tran Dinh Lam just met up with Mrs. Harriet McFadzean, economic expert of Mekong Economics Co., Ltd., and had discussions about issues concerning foreign direct investment (FDI) in Vietnam as well as the state’s policies and amendments to FDI.

The Asian Development Bank is now providing support to small and medium-sized enterprises in the ASEAN +6 group. Mrs. Harriet highly valued the investment environment in Vietnam and the country’s openness to FDI sources, which are having considerable influence on the Vietnam’s economy.

Vietnam needs to place more emphasis on its workforce, be prepared to seize foreign investment with a high level of technical expertise, and frame its policies to attract more FDI sources. Also, the country should pay more attention to private domestic businesses, creating conditions for their development so they can have enough competitive capabilities later on. In the future, Vietnam is predicted to shift drastically to a technique and technology-driven economy. In order to meet the requirement of the growing economy, the role of training should be of greater concern than ever.

In addition to an open, active economy, another advantage of Vietnam lies in its rich natural resources. However, due to unplanned exploitation, such resources are being consumed at an alarming rate. Furthermore, Vietnam is among the countries which will be greatly affected by climate change. Sea level rise in the Mekong Delta has caused massive damage to the region, making economic devastation increase accordingly.

With her expertise in climate change research, Mrs. Harriet said that Vietnam is now suffering severe impacts of the phenomenon; as a result, everyone needs to raise their awareness of environment protection in order to not only reserve their country’s precious natural resources but provide a favorable environment for foreign investors to Vietnam as well. She also mentioned studies on the Mekong River region and other issues which are aimed to create conditions for the Asian Development Bank to support Vietnam more effectively in years to come.

Mrs. Harriet emphasized the role of small and medium-sized enterprises in the era when the Vietnam’s economy integrates with international markets. Capital and foreign investment resources are having a tendency to invest in Vietnam, so small and medium-sized enterprises need to be flexible and sensible when mapping out strategies for their business development so as to avoid being taken over by foreign funds. Instead, they should make use of investment capital to improve their companies’ business efficiency.

Dr. Tran Dinh Lam presents a book to Mrs. Harriet McFadzean.

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