Chairman of Hanoi People's Committee Nguyen Duc Chung has formally signed the memorandum of understanding for the organization of the Formula 1 race for a ten year period, taking place in 2020.
Despite the significant contribution of FDI to the growth of Vietnam's economy, there are still many opposing views from experts concerning about the over reliance of Vietnam on foreign enterprises.
According to Dr. Nguyen Duc Thanh, the current draft law on Special Administrative-Economic Units has failed to do the single most important thing which is to create breakthroughs in the business environment and administrative institutions.
The economic structure has not been shifted and investment resources are being shifted mostly into the old and low value-added sectors, which are reflecting a distortion in Vietnam's labor productivity, according to Nguyen Duc Thanh, Vietnam Institute for Economic and Policy Research's president.
"This officetel model has not been licensed and greatly affected the construction infrastructure as well as social infrastructure of the projects in Ho Chi Minh City in particular and the whole country in general."
