Viet Nam's market attractive for foreign investors
20/08/2007 -- 4:51 PM
Tokyo (VNA) - Viet Nam has achieved a remarkable economic growth rate and has become more attractive for foreign investors, Japan's Asahi newspaper reported.The paper said that during the 2000-2006 period, Viet Nam reached an annual gross domestic product (GDP) growth rate of close to 7 percent, becoming the second-fastest developing economy in Asia. Viet Nam's economy is expected to develop at around 8.5 percent in 2007.
The country is currently one of the most dynamic economies in Asia. Two-way trade accounts for approximately 160 percent of the of the Southeast Asian country's GDP. Foreign investment poured into the country has tripled during the period while domestic savings have risen five fold.
Viet Nam is the world's biggest cashew nut producer and the second rice exporter, with manufacturing, information technology and hi-tech industries serving as an engine for the country's swift economic development.
The paper attributed the attractiveness of Viet Nam's market to the potential spending capacity of the country's population of close to 85 million and an accelerated reform process brought on by World Trade Organisation commitments.-Enditem
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