Vietnam is now listed among Asia’s 12 high-growth markets, according to UK Trade and Investment (UKTI).
UKTI held a conference in London on February 9 to introduce to UK businesses investment opportunities in the 12 high-growth and newly-emerging markets in Asia, including Vietnam.
Business Secretary Vince Cable of the UK Department for Business, Innovation and Skills, who recently visited Vietnam, explained reasons why UK Businesses should seek investment opportunities in these 12 markets, namely Vietnam, China, India, Indonesia, Japan, Malaysia, Japan, Malaysia, the Philippines, Singapore, the Republic of Korea and Thailand.
Significant business opportunities for UK companies were highlighted across a number of sectors including buildings and the environment, education, energy health, digital media, and transport.
At the conference, entrepreneurs were introduced to the favourable factors of these markets. UK businesses consider Vietnam one of the most dynamic and fast growing economies in Asia, with a large, young population.
According to a recent report by Pricewaterhouse Coopers, Vietnam’s growth rate is forecast to reach 8.8 percent by 2050, surpassing India and China.
Apart from strong political relations, Vietnam and the UK established a strategic partnership in 2010 and opened direct air routes from Hanoi and HCM City to London in December last year.
In the first nine months of 2011, UK businesses exported goods worth £225 million to Vietnam, up 4 percent from a year earlier.