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International Outlook: GLOBAL WRAPUP
WELCOME BACK TO VIETNAM
Washington is giving a Christmas present to U.S. companies eager to break into the booming Vietnamese market, which has been off-limits for 18 years. The Treasury Dept. will soon allow companies to do business as long as deals are funded in part by multilateral financial institutions. Executives had feared that Treasury would bar their participation unless projects were fully or largely backed by such lenders. The changes are part of Clinton's easing of the embargo. In the past year alone, the number of U.S. companies seeking licenses to do business in Vietnam has grown from 50 to 300.