The Hanoitimes - Vietnam ranks third in the list of top rapid growth markets (RGMs) in Asia next year behind China and India, according to Ernst & Young’s April forecast.
The Hanoitimes - Vietnam ranks third in the list of top rapid growth markets (RGMs) in Asia next year behind China and India , according to Ernst & Young’s April forecast.
The top three RGM performers in Asia in 2013 are expected to be China and Hong Kong (8.6%), India (8.5%) and Vietnam (7.1%), said the firm’s quarterly Rapid Growth Markets Forecast.
The report forecast that Vietnam would get a growth rate of 5.7% in 2012 and full-year inflation would hit 11%.
The Asian Development Bank, in its Asian Development Outlook 2012 launched April 11, also put the country’s growth at 5.7 per cent this year.
The report added companies alerted to rising cost factors in China could very usefully look at Vietnam , Mexico and African countries as alternative producers of low-cost manufacturing.
However, the report suggested other RGMs need to look at China and learn from its fostering of small and medium-sized companies that are able to identify and occupy gaps in markets.
Rapid growth markets around the world are proving resilient amid uncertainties and subdued trade flows in the global economy, according to the report