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Optimism about private businesses in Vietnam

Update at: 27/12/2010 10:29:13

Investors continue to show their optimism about private businesses in Vietnam as 59 percent of interviewed people in a recent survey by Grant Thornton Vietnam , a provider of world-class auditing and consultancy services, plan to increase investment next year.

Conducted in the fourth quarter of this year, Grant Thornton’s survey, entitled “Investment on Private Businesses in Vietnam – Opinions and Prospects”, collected ideas from more than 200 investors and people who pay much attention to investment in Vietnam.

According to the survey, retail sales attracted most investment, followed by education. Meanwhile, petroleum, gas and natural resources remained the least attractive area together with agriculture and production.

Grant Thornton Vietnam Managing Director Ken Atkinson said it was unsurprised that retail sales continued to be the most attractive area as its annual growth reaches 25 percent.

The Vietnamese economy has shifted from traditional markets to a modern trading method, bringing to investors opportunities to develop their trademarks and occupy more market shares in the S-shaped country.

Interviewees also said that limitation in borrowing loans and lack of transparency in businesses were major barriers for investment besides cumbersome administrative procedures, poor infrastructure and a weak legal system.

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