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controversy. Our relationship is now becoming multi-faceted.
The warmth with which I was received was more than mere
politeness. In my discussions I met with a frankness which led to a real exchange of views.
10. Vietnam is clearly going to develop rapidly, but it is desperately short of finance while the Americans maintain their trade embargo and block normalization of relations with the International Financial Institutions. The Communist Party is
likely to be in power for some time to come. But they appear
committed to economic reform and the market economy, and the
Party will inevitably wither as success creates a new
entrepreneurial class. Britain must be ready and able to capitalise on the opportunities which will arise. There are several dynamic British companies here, particularly in the oil
industry. But we cannot rest on our (modest) laurels. The
Vietnamese want to do business and are looking for investment,
particularly on infrastructure: we should respond positively. One sign of their seriousness was agreement by the Prime Minister, during my visit, to our reopening our Consulate General in Ho Chi Minh City. We also need to help British companies do business in Vietnam by being ready to extend ATP and export credit cover as soon as we can get over the hurdle of past trade debts.
11. The potential for tourism in Vietnam is enormous. One of my most striking experiences ever was a boat trip around Ha Long Bay. This little known maze of islands is without exaggeration one of the wonders of the world. It is so extensive that it would be hard to overexploit it.
12. The Vietnamese are grateful for the limited bilateral assistance we have given and the authorities go out of their
way to ensure we get good publicity for it. But there was constant reference to the need for more assistance, especially
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