panorama
VIETNAMESE TIGER A similar message comes from Vietnam. “Due to the demographics, economic reform and a young IT-literate population, there is huge potential in Vietnam,” says Tim Brownbill, director of trade and investment at the British Consulate-General in Ho Chi Minh City. “But don’t expect overnight success. Patience and perseverance are key. You need to make friends before you can do business.” Vietnam closely follows the big four fastest-growing economies of
Brazil, Russia, India and China. Its GDP has doubled both decades since 1986, recording growth of 6.4 per cent in the second quarter of 2010. Geographically shaped like an
elongated S, Vietnam borders China, Laos and Cambodia. More than half of its 87m population is under 30. Over the past three decades, the
country has recovered from the ravages of war, the loss of fi nancial support from the old Soviet Bloc and the constraints of a centrally planned economy, to emerge renewed as an economically
robust, politically stable and rapidly growing market. UK exports to Vietnam more
than doubled between 2005 and 2009, from almost £82m to £209m. Leading multinationals such as BP, Premier Oil, Shell and Rolls-Royce have a signifi cant presence there, while HSBC has a $350m stake in insurance company Bao Viet, the UK’s largest single investment in Vietnam. Prudential is the country’s largest single overseas employer, with around 2,000 employees and more than 40,000 agents.
springboard: | page 26
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52