Attempts to be positive about Vietnam are stymied by the bare, unpalatable facts
One would like to be optimistic about Vietnam's economic future. In the early 1990s when foreign investment in Vietnam started to gain momentum there was great enthusiasm both within Vietnam and the foreign investment community.
Today, that enthusiasm has waned. Hanoi and Ho Chi Minh City are confronted on a daily basis by recently completed hotels which have yet to host a guest and abandoned building sites begging for renewed interest. Foreign capital has retreated from Vietnam and private domestic capital is yet to show its potential. The state continues to subsidise …
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