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South Vietnam Economy #229645

CBS Evening News for Friday, Jul 27, 1973
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(Studio) Secretary of State William Rogers says United States has moral commitment to continue limited econ. assistance to Vietnam. V14 needs much help.
REPORTER: Roger Mudd

(Saigon, South Vietnam) By Asian standards, South Vietnam is fairly well off. Country heavily dependant on United States dollars. South Vietnam has few factories and shattered agriculture base, meaning country has little to export for foreign support. For. investment may be 1 possible answer. Unipack is a cannery based on joint operation. [Unipack manager Charlie PHUA - believes South Vietnam good investment risk because productivity level of people is good. Workers are good and reliable.] South Vietnam resources are vast in agriculture, seafood, timber and possibly oil. Ea. resource possibility discussed. [Bank director Khuonh Huu DIEU - blames failure for investors partially on press.] [REPORTER - asks if people are taking precautions on investing to see how political future looks.] [DIEU - says investors want to see long-term investment returns in future before they decide on investment. Few investors now. Japanese and American govts. refuse to insure businesses in Vietnam. If Japanese firms sustain war damage, no insurance available to pay. 4 oil companies bid on prospecting rights in South Vietnam, but country needs more investors.
REPORTER: Foster Davis

Reporter(s):
Davis, Foster;
Mudd, Roger
Duration:
00:04:00

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