Vietnam - an attractive market in Asia
Vietnam, with a population of around 90 million, strong economic growth and its proximity to China, is one of the more appealing markets in Asia, according to The Australian Financial Review, a leading daily newspaper.
The newspaper ran an article on September 11, saying that good name helps small-and-medium-sized enterprises (SMEs) gain a foothold in Vietnam.
Australia’s assistance in the construction of My Thuan Bridge in southern Vietnam still resonates in commercial dealings in the rapidly developing country, the paper reported.
The article noted that the bridge over the Mekong River linking Tien Giang and Vinh Long provinces, which was completed more than a decade ago and was a joint venture between the Australian and Vietnamese governments, has helped gain Australia’s commercial reputation.
According to the head of global trade at HSBC, Andrew Skinner, Vietnam will eclipse the growth in China’s trade with Australia next decade, growing at around 8% by 2030.