Posted on 10/20/2006 12:58:58 AM PDT by John Carey
President George Bush plans to attend the Asia Pacific Economic Cooperation (APEC) conference November 17-19 in Vietnam. We applaud this effort by the president to make this historic trip to help foster what we call the Vietnam Economic Miracle.
Vietnams entry to the World Trade Organization (WTO) and the granting of Permanent Normal Trade Relations (PNTR) by the U.S. are virtually assured in the next month or two, or, for PNTR, sometime next year. We support the president and congratulate Vietnam on these successes in bringing the government of Vietnam into the greater world of economic cooperation and prosperity.
But we also urge the President of the United States and the American people to remain mindful of the human rights abuses in Communist Vietnam abuses which have lessened somewhat in recent years but still paint a troubling picture.
The economy in Vietnam is starting to rumble and many want to participate in the anticipated new prosperity and wealth.Tourism is exploding in Vietnam along with the associated hotels, restaurants, and other businesses. Tourist arrivals to Vietnam have grown on average 20% per year over the past 15 years, shooting up from 250,000 in 1990 to 3.5 million last year. The first quarter of 2006 saw more than a million tourists visit Vietnam, on pace to hit the governments target of hosting 4 million tourists this year. Some industry analysts optimistically estimate tourist arrivals will double to 8 million in Vietnam by 2010. The industrys positive cash flow to Vietnam is estimated at two trillion dollars a year.
But there are many other industries and ventures that are currently thriving in Vietnam.
Vietnams textile industry is such a p
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