Post by larry on Aug 13, 2006 23:49:37 GMT -5
Oft-overlooked, yet with economic growth comes political clout. Be interesting to see how things will look in E Asia ten years from now.
money.cnn.com/2006/05/09/news/economy/retail_vietnam/index.htm
money.cnn.com/2006/05/09/news/economy/retail_vietnam/index.htm
Setting aside those challenges, Vietnam offers a string of positive attributes that make it a more alluring option versus China for U.S. and other international companies, he said. According to Farra, China held the No. 1 spot in the index five years ago but has been slipping every since. "If I was a retailer looking for opportunity to grow abroad, beyond India, Vietnam is the place to invest in," Farra said.
Why?
Vietnam has one of the fastest growing economies in Asia. It's gross domestic product (GDP) -- a measure so the size of the economy -- grew a robust 8.4 percent last year, outpacing a much slower 3.5 percent annual GDP growth rate in the United States in 2005.
Half of Vietnam's population of 84 million people are below the age of 30. This is significant, Farra said, because young people like to shop. To that point, consumer spending in Vietnam rose 16 percent last year and retail sales increased 20 percent in 2005 versus the previous year.
Why?
Vietnam has one of the fastest growing economies in Asia. It's gross domestic product (GDP) -- a measure so the size of the economy -- grew a robust 8.4 percent last year, outpacing a much slower 3.5 percent annual GDP growth rate in the United States in 2005.
Half of Vietnam's population of 84 million people are below the age of 30. This is significant, Farra said, because young people like to shop. To that point, consumer spending in Vietnam rose 16 percent last year and retail sales increased 20 percent in 2005 versus the previous year.