Vietnam’s steady transition to liberalised economy is given wide-ranging analysis in a new report just produced by the global research and consultancy firm Oxford Business Group (OBG).
The Report: Vietnam 2017 charts the country’s growth story over the past three decades, which has seen its share of world trade increased five-fold since the year 2000 and FDI levels rise to account for approximately 70% of exports.
OBG’s report looks in detail at the opportunities that stronger in-country value chains and new trade deals are expected to produce, most notably an agreement with the EU, which is set to be signed in 2018.
In a year when Vietnam is hosting the 25th APEC summit, the publication also considers the country’s growing regional role, including its preparations for integration into the ASEAN Economic Community.
The Report: Vietnam 2017 shines a spotlight on the sectors of the economy that are leading growth, including the country’s manufacturing industry, which is benefiting from ongoing liberalisation efforts, foreign interest and a growing domestic consumer base. There is also coverage of Vietnam’s tourism industry, which has witnessed visitor numbers rising at record rates, buoyed by interest in the country’s cultural, historic, natural and culinary attractions.
The Report: Vietnam 2017 was launched on April 25 at Government Guesthouse, Hanoi, during a panel debate, titled, ‘Improving the corporate environment to secure Vietnam’s global competitiveness’.
The discussion was attended by Vu Quang Minh, assistant minister, Ministry of Foreign Affairs, who is the guest of honour, together with other VIPs, representatives from the public and private sectors, and the media.
Keynote speakers included: Dinh Thi Quynh Van, general director, PwC Vietnam; Virginia B. Foote, CEO Bay Global Strategies; Pham Hong Hai, CEO, HSBC Vietnam; Tyler Cheung, director and head of Institutional Client Division, ACB Securities; Selena McGuiness, head of trade and investment, British Embassy; and Michael Benson-Colpi, chairman, OBG.
The Report: Vietnam 2017 contains contributions from Nguyen Xuan Phuc, prime minister of the Socialist Republic of Vietnam, and former US President, Barack Obama, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with other high-profile personalities, including Pham Binh Minh, deputy prime minister and minister of foreign affairs; Nguyen Chi Dung, minister of planning and investment; Dinh Tien Dung, minister of finance; Cecilia Malmström, European commissioner for trade; and Le Luong Minh, secretary-general, ASEAN.
Commenting on the launch, Benson-Colpi said that Vietnam had undoubtedly emerged once again as a leading investment destination in South-east Asia, edging many other emerging markets around the globe.
“With trade liberalisation and policy reforms now paying off, Oxford Business Group’s subscribers from across a broad reach of destinations, including London, New York, Bangkok and Jakarta, have shown themselves keen to learn more about the latest developments in this dynamic market,” he said. “We are delighted that after more than a year of research on the ground and hundreds of interviews, we are now able to share our definitive 212-page guide to Vietnam’s economic landscape with you all.”
Paulius Kuncinas, OBG’s managing editor for Asia, added that with forecasts suggesting growth of between 6% and 10% annually over the next five-10 years, investors eyeing Vietnam’s opportunities had plenty to consider.
“Our first report on Vietnam points to a diverse economy, containing several high growth sectors, which include manufacturing and processing, finance, telecoms and logistics,” he said. “Strong domestic demand, continuing high levels of foreign investment and improved conditions for the country’s agricultural sector are among the positives in 2017, as another chapter unfolds in what is proving to be a fascinating growth story.”
The Report: Vietnam 2017 marks the culmination of more than 12 months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: Vietnam 2017 is available in print and online.