Sri Lanka, Vietnam economic potential explored

Mar 28, 2012 (LBO) – Greater co-operation between Sri Lanka and Vietnam will be examined in an economic forum on March 30, with the participation of economists and government officials Friday. After people’s property rights were improved and market prices were freed Vietnam became the world’s second largest rice exporter from being a net rice importer before. It is on track to take the top spot from Thailand.

In 2011 exports rose 33.3 percent to 96.3 billion dollars and imports rose 105.8 billion dollars up 29.2 percent.

Foreign invested projects are a key driver of exports and imports. Vietnam is one of the world’s largest recipients of foreign investments. Realized foreign investments in the first two months of 2012 were estimated at a billion US dollars down 9.1 percent from a year earlier.

In 2011 Vietnam received 6.0 million tourists up 19.1 percent from a year earlier. Vietnam is part of the ASEAN visa free travel area.

International Monetary Co-operation minister Sarath Amunugama will be chief guest at the seminar on ‘Exploring the potential for Sri Lanka-Vietnam economic Co-operation’, organized by the Institute of Policy Studies and the Vietnam embassy in Colombo.