Many investments accompanied by high risks 

According to Dr.Dau Anh Tuan, from the Vietnam Chamber of Commerce and Industry (VCCI), even though some enterprises are still expanding and taking risks in tough economic times, most are merely trying to survive.

He said, "Since 2000, the entrepreneurial spirit has never seen such a low, especially at small and medium-sized firms. This is worrisome because domestic firms are the key force driving our economy forward."

On the other hand, deputy CEO of MB Securities JSC, Quach Manh Hao, said doing nothing makes economic sense in difficult times, but that business should not give up on looking for opportunities. "I think it will take at least two or three more years for the economy to recover," he said.

Hao went on to say that bank deposits are a solid investment choice for the next year because the future of the stock market and real estate is unclear.

He added that people can still bet on the stock market and government's efforts to push economic growth. The stock market will rise, not because of better economy but because people will become more optimistic. "I like this channel of investment because of its high liquidity," he said.

Former deputy head of National Financial Supervisory Commission Le Xuan Nghia, was more cautious. He recommended, "People should keep half of their money in the bank before investing the rest on stock market."

On the subject of investing in gold, one of the most popular investments for Vietnamese, Nghia said people must be more flexible since gold prices are on the decline. Instead of depending on gold, Nghia said, sell it when the prices are high, people now can borrow gold, liquidate it then buy the gold back when the prices get lower.

In the meantime, the real estate market does not seem to be a profitable investment channel now.

The former minster of Natural Resources and Environment, Dang Hung Vo, said before 2008 real estate was extremely profitable. This channel only fell out of favour when the government applied monetary policies to reduce inflation.

"I think it finding the best investment channel will depend on individuals perceptions of the situation," he said.