Chuck Kuhn's Asia in Photos: Vietnam: Asia’s youngest tiger economy

Monday, February 18, 2008

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.19 February 2008

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They say "

“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.”
― Graham Greene, The Quiet American

Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.