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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.

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