The leading emerging market
Viet Nam has never looked back since it first embarked on its economic renewal policy, Doi Moi, which was launched in 1986. Over the last 3o years, the economy has enjoyed an unbroken growth record, with an average GDP growth rate of 6.6% p.a. This publication aims to provide a snapshot of Viet Nam’s future, its industries and what it takes to be successful in this emerging economy that has come to be known as Asia’s next rising star.
In our World in 2050 report, we projected that by 2050 Viet Nam could be among the Top 20 economies in the world and Top 10 in Asia. The average real GDP growth of Viet Nam could reach 5.1% p.a. between 2016 and 2050.
Going forward, the following growth engines are expected to enhance opportunities for investors in Viet Nam:
Foreign companies seeking to capture Viet Nam’s advantages and opportunities will need to invest and develop local resources and capabilities, as well as navigate existing business challenges before they can secure their future and success in Viet Nam.
To turn their investments in Viet Nam into a success, businesses will need to plan and develop their capabilities around three broad domains:
We invited PwC UK's Chief Economist John Hawksworth and several CEOs of locally based foreign companies to share their thoughts on Viet Nam - the prospects they see, the challenges they face and their keys to success.