Vietnam: Asia’s youngest tiger economy
Vietnam is set to be the strongest emerging economy in South East Asia, with 8.5 per cent GDP (gross domestic product), according to Vietnam Emerging Capital Limited (VECL).
VECL director and chief executive Lawrence Nguyen said that with foreign direct investment up 42.5 per cent in 2005 to $5.8 billion, and an economic forecast of 8.1 per cent (year-on-year) to 2010, Vietnam offered investors a great opportunity as Asia’s youngest tiger economy.
According to Nguyen, Vietnam is also one of the most stable countries in the region, as the government moves to become a fully-fledged market economy.
“The Central Ministry and foreign research companies have also predicted that Vietnam will surpass China and India as a main outsourcing destination in the next five years,” he said.
VECL, which is one of the first Australian companies to offer direct investments in Vietnam, is set to list on the National Stock Exchange (NSX) on February 29, 2008, with a public offer of 50 million shares of $.0.25 to raise $12.5 million.
Nguyen said 50 per cent of its portfolio will be invested in pre-IPO, SOE privatisation and listed shares, and the other 50 per cent in select private equity investment opportunities in property.
“Our goal is to be the leading investment capital in Vietnam and grow in excess of $100 million market cap,” Nguyen said.
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