Vietnamese conditions good for foreign investment: EuroCham

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Vietnam has many advantages over regional countries and will continue to be an attractive place to invest in, a foreign business association said Friday.

According to the European Chamber of Commerce in Vietnam, with a gross domestic product of US$103 billion, political stability and a young population (57 percent under the age of 30), Vietnam offers competitive conditions for foreign investment.

The association, also known as EuroCham, said foreign investment is in fact an important source of funds for development.

The foreign sector has contributed significantly to the government budget, estimated at nearly $5 billion over a three year period ending 2008, the association said.

EuroCham, now one of the largest foreign business associations in Vietnam, said foreign investors have brought new technologies to the country and their existence here also encouraged a more transparent legal system.

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