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UK heralds VN as growing Asian economy
Viet Nam was listed one of 12 high-growth, emerging markets across Asia at an investment opportunities conference hosted yesterday in centre London by UK Trade and Investment.
Titled 'Explore Asia - a world of opportunities for UK companies', the conference concentrated on updating UK enterprises on the business environment and opportunities in growing markets across Asia.
According to the economic expertise of conference leaders, Viet Nam has a young labour force and will be soon one of the most attractive investment destinations for UK companies.
Strategic relations between Viet Nam and the UK were established in 2010 and direct flights were set up last year from Ha Noi to London which have increased business co-operation between UK enterprises and local companies.
In the first nine months of 2011, export trade from UK to Viet Nam reached £225 million (US$335 million), over 4 per cent of total export to Viet Nam, compared against the same period of 2010.
This rise can be explained by the growth of Vietnamese consumers and industry.
Viet Nam is predicted to reach an average annual growth rate of approximately 8.8 per cent in excess of both China and India, according to recent financial report of PricewaterhouseCoopers, by 2050.
Other potential and emerging markets listed at the conference include China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Korea, Taiwan and Thailand.
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