Vietnam should be prudent

Vietnam should be prudent

HANOI (AFP): A senior World Bank official urged Vietnam yesterday to be prudent in the mobilization of foreign capital given the country's outstanding debt issues which might constrain potential growth.

"The primary challenge facing Vietnam at the present time is how to improve credit worthiness and manage increased external flows prudently in a way that will not lead to longer term problems for the economy," said Bradley Babson, World Bank resident representative in Vietnam.

Vietnam needs a total investment of some US$42 billion between now and 2000 to sustain its growth, of which more than $20 billion is expected to come from external resources, vice Premier Phan Van Khai said at the opening of the seminar.