In 2007 Vietnam coped with a lot of difficulties including the impact of natural disasters, epidemics, the soaring prices of consumer goods and unexpected complications around the world. However, with a joint effort from the entire Party, army and people, the country overcame these difficulties and made many impressive achievements in its socio-economic development.

The cause for the poor development of the maritime industry is a lack of investment capital and close cooperation among Vietnamese businesses. This is enabling foreign businesses to take a bigger share of the domestic market.

Vietnam’s socio-economic achievements over the past year have been attributed to the result of the country’s reform process, in which its WTO membership plays an important role.

During his lifetime, despite being busy with national affairs, President Ho Chi Minh showed keen interest in and loving care for the people.

Vietnamese businesses’ great concern about the risk of losing market shares as well as their competitive edge after joining such a large playing field has motivated them to make a number of positive changes.

The Government’s efforts to put in place its administrative reform have not only helped people reduce their own problems and promote their basic rights, but have also accelerated growth and sharpened the competitiveness of the economy.

Is it necessary to clear fertile plains to build industrial parks and urban areas or protect scarce agricultural land fund to ensure the country’s sustainable development?

With 2007 coming to an end, Vietnam is now entering a new year with new difficulties and challenges, but also with high hopes. The tremendous achievements made in the past year are expected to bode well for the country to fulfil its ambitious goals in 2008.

As Vietnam integrates deeper into the world economy, businesses should take into account the need for recognition of their product brands. Acknowledged brands will help businesses build up their trademark domestically and globally.

Vietnam’s inflation rate is predicted to be between 11-12 percent this year, higher than the recorded figures in other regional countries in recent years, requiring economists to reconsider issues related to monetary policy and the management of the macro economy.