Jim Winkler, Director of the Vietnam Competitiveness Initiative (VNCI), made the statement during a seminar in Hanoi on April 6 regarding institutional reform in the context of integration into the World Trade Organisation (WTO).

Mr Winkler said he was surprised at the rapid development and dynamism of Vietnam, but added that various challenges remain ahead for the country to tackle in the near future.

The seminar, held by the National Assembly Office in collaboration with the US Agency for International Development (USAID), was attended by representatives from the Vietnamese legislative body and Vietnamese and US researchers.

VNCI is a USAID-funded economic growth project, which aims to improve the competitiveness of small and medium-sized enterprises in Vietnam. Starting in last quarter of 2003 the project is being implemented in 3-5 years.