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Article: Remodeling Hanoi as an FDI magnet, THE VIETNAM INVESTMENT REVIEW
- Article from:
- The Vietnam Investment Review
- Article date:
- May 13, 2002
- Author:
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Nguyen Do Khue, deputy director of Hanoi's planning and investment
department,
has found a new way of attracting badly needed foreign investment
for the
capital city: He wants to cancel 24 impending foreign- invested projects
worth several hundred million dollars.
Khue, who is in his 50s, knows that the method has never been used
before in Vietnam as Vietnamese officials tend to fear that the cancellation
of foreign investment projects is a sign of a deteriorating business
environment.
But Khue thinks differently. "[The projects] embarrass legitimate
investors," Khue said. "It is better to let them go than to have them
on
paper." According to Khue, ...