US Diplomat Urges Economic Reforms in Vietnam

Speaking this week at Vietnam’s Foreign Trade University, an American economic affairs diplomat (Robert D. Hormats) said Vietnam’s ability to continue its economic advancement depends on better transparency, less corruption, and human rights protections.

He also expressed concern about the new price controls under consideration to control inflation, saying they would discourage foreign and domestic investment.  He said price controls do not work and cause long-term distortions that last for years and are difficult to unwind.

More on US-Vietnam bilateral relations

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