A conference held by the UK’s Department of Trade and Investment on Feb. 9 in London highlighted Vietnam as one of the top high-growth and emerging markets in Asia for UK businesses to seek out investment opportunities.
At the conference entitled, ‘Explore Asia: A world of opportunities for UK companies’, the Secretary of State for Business, Innovation and Skills Vince Cable, who has recently visited Vietnam, pointed out along with others, reasons why businesses should look for opportunities in these Asian markets, which include Vietnam, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, the Republic of Korea, Taiwan and Thailand.
Those attending the conference also heard a summary of the conditions in each market, with Vietnam considered an active and fast growing economy, with a large, young population.
According to a report by PricewaterhouseCoopers Global Entertainment and Media , Vietnam is likely to reach an annual growth of 8.8 percent by 2050, overtaking India and China.
Vietnam and the UK have had a stronger political relationship since their strategic partnership began in 2010. A direct air route linking Hanoi , Ho Chi Minh City and London was also opened last December. Exports to Vietnam from the UK in the first 9 months of 2011 reached 225 million pounds, a 4 percent increase year-on-year.
The department works with UK based businesses to help them penetrate international markets and encourages overseas firms to invest in the UK. /.