EXTENSIVE READING WORKSHEET

Date:

Student’s Name: Nguyễn Trường Giang Class:

commerce B

Text title: Country ranks hight for investment

Number of words:

Web-address:
http://vietnamnews.vnagency.com.vn/showarticle.php?
num=01BUS070108
I begin reading at: 20:15 I finish reading
at: 21:30

I use dictionary. I do not use

dictionary.

I. Indicate your answers by coloring and underlining it.

1. Self-rating of text comprehension. My understanding of the text was …

A. Very poor B. Poor C. Acceptable D. Good E. Very good

2. In my opinion, the text is…

A. Very B. Easy C. Normal D. Difficult E. Very

easy difficult

II. Express your opinion by coloring and underlining one of the numbers in the scale
below.

1 2 3 4
Very Little Little Much Very Much

1. Did you enjoy reading the text? 1 2 3 4

2. Did you learn anything from the text? 1 2 3 4
3. Was the general topic of the text familiar to you? 1 2 3 4

III. Summarize the text in 1-2 sentences. (What is it about? What happens?)

This is the first year the Foreign invesment for Vietnamese economy was ranked 6 th out of 141 in
terms of expectations.
In 2008’s export taget for sector is 4.1 $ billion, hight than 2007’s export 0,35 billion

V. (Optional) Write down any other notes, questions, and comments about the text as
well as about reading online (What do you expect the teacher do for you before reading,
while reading, after reading)

V. Copy and paste the text you have read here.

1
Country ranks high for investment
by Hoang Nam

The Vietnamese economy was ranked 6th out of 141 in terms of expectations for receiving
foreign investment by the United Nations Conference on Trade and Development. China,
India, the US, Russia and Brazil came in ahead of Viet Nam. This is the first year the country
has been listed.

The reason for the ranking might be Viet Nam’s constantly renovated business environment,
including changes in the legal system, policies, and investment environment in recent years.

With the top five nations on the list being much bigger economies, Viet Nam’s number six
spot is striking indeed.

However, the snail’s pace in bringing about everyday bureaucratic renovation is worrisome.
The distance from legal papers to State officers, from central authorities’ policies to on-the-
ground application and from legal regulations to daily practicality is still a long, hard slog.

Red tape might deter foreign investors from persevering with their Viet Nam projects if faced
with delays and other headaches.

Viet Nam sails to top

With an export turnover of $3.75 billion for 2007, a 12 per cent increase from 2006, Viet Nam
has officially reached the top 10 standing of countries with the highest marine export turnover
in the world.

One year after joining the World Trade Organisation (WTO), the number of businesses
meeting international standards of marine product exports to big markets like the EU, US and
Japan has doubled.

In 2007, 1,200 enterprises got the go-ahead to export marine products to 130 nations.

The aquaculture industry has diversified its products. Previously, shrimp was the main
product but now only accounts for 40 per cent of the total, along with catfish and other marine
products.

This year’s export target for the sector is $4.25 billion.

The Ministry of Agricultural and Rural Development considers the international marine
market to be a big draw for Vietnamese enterprises. The biggest challenge is the technical
barriers for processing exported marine products.

The ministry is now intensifying quality and hygiene safety investigations for exported
marine products.

HCM City hits high

2
Viet Nam’s economic hub closed the books last year with a total of VND91.3 trillion ($5.7
billion), an increase of 117 per cent, collected for the State budget.

GDP growth is expected be higher than 12.6 per cent. Money from selling houses and renting
land spiked, in part due to a 10-fold increase in district fees.

In 2008, the city is counting on over VND100 trillion ($6.2 billion) pouring in.

Trade deficit on the rise

Last year, Viet Nam imported around US$59 billion of goods, up 31 per cent, and led to a
trade deficit up 70 per cent in comparison with 2006.

Viet Nam mostly imported fuel, iron, fertiliser, plastic, machinery, medicine, electronics,
computers, cloth, chemicals, wood, milk and food for animals.

Trade deficits came mainly from China at $6.8 billion, Taiwan $4.4 billion and the Republic
of Korea $3.2 billion for the first 10 months of 2007.

Materials for production and processing were imported from neighbouring countries but hi-
tech equipment came from the US, EU and Japan.

There were four main reasons for the high trade deficit: high economic growth along with
strong foreign investment flows, steep rises in prices and quantities of many imported
materials, export growth not reaching import development, and an import tax cut as well as
increased demand for imported commodities.

Many taxes for commodities have already been slashed but the proportion of imported
consumer goods is still small, around $2 billion or 3 per cent of export turnover, since most
consumer goods are produced locally. — VNS