Vietnam's rapid economic growth is based on strong fundamentals
Vietnam is on the go. Almost two-thirds of Vietnam’s 86 million people are under 35 years – a demographic structure that will support growth over the long term. In addition, young Vietnamese are highly optimistic and forward-looking, with progressive attitudes to modern technology and products.
Vietnam’s labour costs are among the lowest in Asia, and with literacy over 90 percent and a culture that values education and hard work, Vietnam is attracting an ever-greater number of major multinational corporations.
Vietnam’s coastline of over 2,300km in the heart of Asia provides easy access to world markets. Vietnam is among the world’s leading exporters of rice, seafood, coffee, pepper, textiles, footwear and furniture, and is also a major oil producer.
Vietnam is routinely ranked among Asia’s most stable political environments by Business Monitor International, and accession to the WTO in 2007 has sparked a wave of pro-business and pro-investment reform.
Vietnam’s rising middle class exhibits increasing brand consciousness, while also stressing value and quality in consumer surveys. As Vietnam’s middle class grows in numbers and in wealth, numerous domestic businesses – from financial services to education to housing construction – will see steady growth for many years into the future.
Vietnam has been among the world’s fastest growing economies since the turn of the century, a trend that will likely continue for many years. Vietnam’s growth trend puts it at the leading edge of global emerging countries – a fast-changing environment that offers the possibility for superior investment returns over the medium to long term.
