In 2013, overseas Vietnamese people remitted an estimated $11 billion back into Vietnam. In 2013, Vietnam’s GDP was $170 billion. That’s right, overseas Vietnamese send back so much money that it’s equal to about six percent of Vietnam’s overall GDP.
Vietnam, having been burned several times with “super projects”, now casts a suspicious eye on proposals for mammoth, multi-billion dollar projects.
Corruption is affecting Vietnam’s FDI prospects, and if the problem is not resolved, the country will become less attractive to foreign investors, Nguyen Mai, chairman of the Vietnam Association of Foreign Invested Enterprises, tells Vietweek.
Creating a level of playing field for Public-Private Partnership (PPP) is key to improve inclusiveness and quality of public service delivery in Vietnam, meaning the country should strengthen legal framework to engage more private investment in developing public infrastructure and services, making them affordable and accessible for people, especially the poor, says an expert of the Asian Development Bank (ADB) at the launch of the Asian Development Outlook 2014 in Hanoi.