In case you haven’t heard, we are giving away two $1,800 tickets to the Economist’s Vietnam Summit 2016. We asked our readers to submit three things they would like to see happen in Vietnam in the future. You can read about contest rules here. Two winners will receive the $1,800 summit tickets.
Below are three ideas submitted by Nicholas Ashby, the CEO of Malaysia based corporate finance firm Celadon Capital. Celadon was founded in 996 in Kuala Lampur, and works closely in the private equity, venture capital, and M&A industries across Southeast Asia. We are pleased to share three things their CEO would like to see happen in Vietnam below.
A High Speed Train Linking Saigon and Hanoi
High speed trains have been known to reduce pollution, free up commute time, and cure traffic congestion. All this while allowing for dramatically shortened transport time. It would make sense for Vietnam’s two largest economic & cultural hubs to be connected by one. Last year, Prime Minister Dong had already approved the construction of trains that ran at 350 kilemeters per hour. Ashby would like to see shortstops at Danang, Na Trang, and Hue, among others. He says that this should be followed by extension lines to Halong in the North and selected cities like Vung Tao in the South.
Reduce Foreign Ownership Limits
Ashby would like to see a reduction in non-sensitive sectors and publicly listed companies. This would further drive investment – allowing foreign investors to reap strong returns and domestic companies to access more capital. Such a move would assist Vietnam in its push to strengthen its privatization program, boost its status in the MSCI world market indices, and strike more trade agreements. A boon for economic growth.
Simpler Regulatory Approval
Ashby, like many other financiers active in Vietnam, is calling for simpler regulatory approvals across all sectors. This isn’t surprising, given that an overload in regulatory measures can choke industries of progress. Like reducing foreign ownership limits, simplified regulatory approval across all industries would allow progress to flow faster and improve prosperity in all sectors.
Do you have things you would like to see in Vietnam’s future? Submit them in our contest to win an $1,800 ticket to The Economist’s 2016 Vietnam Summit.