Declassified per Executive Order 13526, Section 3.3
NND Project Number: NND 63316. By: NWD Date: 2011
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foreign investor that his capital and, sometimes even more important, his technical and managerial know-how are being sought. An active and determined campaign, well publicized, would help to demonstrate to the whole world that Viet Nam faces the future will resolution and confidence.
Of course, a major obstacle in the stimulation of private investment is the security situation. However, despite its seriousness there have been new investments both local and foreign. This impetus should continue and accelerate. Some measure in this direction that should be considered are:
(1) Investment law: Enactment of an investment law to provide guidance and policy to public officials and to investors would help establish a legal framework of rights, privileges, and obligations of the investor.
(2) Industrial Development Center reorganization: Establishment of an effective agency to provide leadership, direction, coordination, and operational personnel to formulate and effect a program for encouraging private investment is recommended. The Industrial Development Center seems a logical institution to serve this need. It must be re-organized to become an investment promotion center rather than a financial support agency. Its activity should be devoted principally to:
- - stimulating creation of new industries
- - encouraging expansion of existing industries
- - creating a productivity agency
The Industrial Development Center should be able to give to investors all information they need on the general economy of the country, procedures for establishment of their industries, fiscal advantages, labor etc.
(3) Credit facilities: Improved facilities with more adequate
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