However, to attract foreign investment in the above fields, the country has to change its views and devise specific measures.

Infrastructure development needs large amounts of investment capital, so to lure investment in the field the country has to devise specific measures such as allowing private enterprises to participate in the field.

Joshua Magennis, president of Australian Chamber of Commerce and Industry, highlighted that in many other countries, the State and private sector have closely coordinated to develop infrastructure. Although the Vietnamese Government allows the private sector to invest into the field, in fact, few foreigners have holdings in infrastructure projects. He proposed the Government change its views and create more favourable conditions for foreigners to have holdings in the infrastructure sector.

Jeff Puchalski, president of the US Chamber of Commerce, said foreign direct investors have plans to increase export volume. However, with the current infrastructure, especially in the southern key economic region, ports find it difficult to receive large ships. “We are proposing the Government allow the private sector to develop sea port infrastructure,” Mr Puchalski said.

Business associations have also proposed the Government let the private sector invest in infrastructure projects. Vu Duy Thai, director general of the Hanoi Industry and Commerce Association, said despite the Government’s effort, State budget and ODA cannot provide enough capital for infrastructure development.

Preben Hjortlund, deputy president of the EU Chamber of Commerce said in fact infrastructure development is happening slower than economic growth, creating a burden for investors. “We pointed out the weakness and supported the idea of attracting private enterprises to invest in infrastructure projects such as ports, airports, electricity generation plants and telecommunications,” Mr Hjortlund emphasised.