Ho Chi Minh Capitalism

By Janice Castro

American companies are eager to do business in VIETNAM. Citibank, Philip Morris, Mobil, General Electric and Caterpillar are said to be lobbying for an end to the U.S. economic embargo. Coca-Cola and Kodak are already well known there, thanks to black-market sales. Last month the Backer Spielvogel Bates advertising agency, one of the world's largest, hosted a marketing conference in Ho Chi Minh City. Said Carl Spielvogel, chairman of the firm: "We believe there is an enormous potential there, and in Indochina generally. We intend to be pioneers in this market."