Mr. Hoang Trung Hai
Minister of Industry
Viet Nam

Mr. Hoang Trung Hai is currently the Minister of the Ministry of Industry for Viet Nam. He graduated from Hanoi Polytechnic University with a degree in Electrical Engineering. He also has completed an MBA degree from Trinity College, Dublin, Ireland. Prior to attaining his current position, Mr. Hoang was a Vice Minister for the Ministry as well as the President and CEO for Electricity of Viet Nam.

As the Minister of Industry for Viet Nam, Mr. Hoang spent his time at the podium discussing the industrial status of Viet Nam as the nation hosts the APEC forum in 2006. Mr. Hoang thanked the audience for their participation, pointing out that most of the current economic development is due to foreign direct investment (FDI). He expressed the condition but acknowledged certain challenges the economy faces as it begins its time with the WTO. Viet Nam is currently experiencing a 16.1% industrial growth rate per annum. Currently 20% of the workers are trained, with 18% working in the industrial section. He then concentrated the rest of his talk on the energy sector. He expressed concern that the economy has to import refined oil and gas for use while its reserves are great. By 2009 the nation will have its own, and its first, refinery. The 2009 refinery is one step along the greater path to satisfying the 2020 goals of Viet Nam’s industry. Viet Nam needs to maintain the high growth rate for the next ten years especially focusing on medium to high value-added sectors to meet these goals. It would take 6 or 7 Million USD in foreign direct investment to meet the demands of the growing energy industry in the coming years. Viet Nam uses 600 kwh of energy per head, compared to 3 or 4,000 in other areas in Asia and 10,000 in the developed world. Regarding the steel industry, even though the industry is growing 20% a year, the nation still is forced to import due to the extremely high demand, around 50% of their steel use. He encouraged the audience, and in essence the Asia Pacific region, to explore opportunities to invest in Viet Nam. Even though the challenges are great, especially regarding infrastructure issues, Mr. Hoang remained confident and optimistic toward the economic development and future of the nation of Viet Nam.

We approached Mr. Hoang to request an interview, and he seemed excited at the opportunity, but he was short of time and was not able complete an interview. It was interesting to see what great progress the nation has made in encouraging its nascent industries, greater than even Asian India in some respects. Viet Nam is experiencing great growth and there are incredible opportunities for both foreign investors and the people of Viet Nam to participate in this new market. It is refreshing though to recognize that he acknowledged some of the challenges the nation currently faces, especially the lack of infrastructure and the continuing need to import such resources as refined oil and steel. We are also concerned that some of the natural resources may be exploited, but Mr. Hoang was reassuring in his concern of sustainable development.

“We want you to explore the opportunities for investing in Viet Nam.”

Written by Webb McArthur, Felipe Delgado, Ana Cecilia Perez (above), and Nill Patrick Arroyo