The Head of Aikawa-Asia business research institute, Seiji Aikawa, said the renewal process has helped Vietnam escape from being a country of war to become an attractive destination for foreign tourists and investors, including those from Japan.

In 2006, Vietnam ranked forth among five countries with the most attractive investment environment for Japanese investors, after China, India and Thailand. The country surpassed Thailand to climb to third place in 2007.

Mr. Aikawa, who promoted Vietnam’s business environment to Japanese investors, said the advance is attributable to the Southeast Asian country’s political stability, its encouragement policies for foreign investors and its low-priced workforce.

The government’s focus on improving the country’s infrastructure and legal system, adjusting the economic structure and strengthening human resources training will help Vietnam become an attractive investment destination for Japanese investors, he said.