Master Card Sees Vietnam as Most Optimistic Market in Asia-Pacific

Vietnam has been appraised by the US-based Master Card (MC) Company as the most optimistic market in the Asia-Pacific region.

 

Vietnam has been endowed with more developing opportunities than other countries in the region, largely thanks to its ability to draw a huge influx of foreign direct investment and to establish an ever-growing stock market over the recent time, MC noted.

 

Dominic Scriven, Executive Director of Dragon Capital Fund, a company that holds a total US$1 billion in assets and bonds in Vietnam, said that with the remarkable growth rate of over 8 per cent in 2006, Vietnam ranked second in Asia after China regarding economic development.

 

Vietnam’s official entry into the World Trade Organisation (WTO) in January 11 this year is expected to further boost to its export-driven economy, Scriven confirmed.

 

It is reported that the country attracted a record FDI of US$10.2 billion last year, and targets US$55 billion in FDI between 2006 and 2010, or US$11 billion a year on average.

 

Vietnam, an emerging economy in Asia, earned US$39.6 billion from export last year, a year-on-year increase of 22.1 per cent. The country targets US$47.54 billion from goods exports this year, up 20 per cent on-year, according to the Ministry of Trade plan.

 

(VNA)