Vietnam will experience a 125% increase in wealth, the largest expansion in wealth of any country in terms of GDP per capita and number of millionaires. (Photo: VNA) In his article posted on Infobae, reporter Rossana Marín highlighted Vietnamis a favoured and promising destination for multinational enterprises to set upproduction activities, particularly those in technology and automobilemanufacturing.
He cited a report from New World Wealth – a wealth intelligence firm based in South Africa and Henley&Partners – a global leader in residence and citizenship by investment based in London that said the Southeast Asian country will see the sharpest spike in wealth growth overthe next decade as it cements the status as a global manufacturing hub.
Vietnam will experience a 125% increase in wealth, the largest expansion inwealth of any country in terms of GDP per capita and number of millionaires.
Marín also quoted a report from McKinsey which showed that Vietnam’s strategiclocation, low cost of labour and infrastructure supporting exports have alltransformed the country into a prime destination for international investment.
The article quoted chief investment officer ofVinaCapital Group as saying in his talks with CNBC that Vietnam is developing rapidly and most of thepopulation is benefitting.
New World Wealth’s analyst Andrew Amoils held that Vietnam isan increasingly popular manufacturing base for multinational tech, automotive,electronics, clothing and textile firms,
According to Infobae, Vietnam’s attractiveness to enterprises together with itssafety hasg attracted investors, thus contributing reatly to the economic growth.
The article described the fact that Vietnam is home to 19,400 millionaires and58 centimillionaires as a vivid illustration for the country’s increasinglyeconomic attractiveness and investment potential.
Marín said the increase in the number of the individuals with strong purchasingpower signals the country’s economic dynamism as well as its ability to lureand generate wealth.
RegardingFDI attraction, the article said Vietnam has been a magnet to foreign investments,with FDI capital inflows into the country surging 32% year-on-year to 36.6 billion USDin 2023.
FDI is an important driver for Vietnam’s economic growth as it has backedup the country’s industrialisation with export as a focus.
Vietnam’s growth story has been propelledby an export-led industrialization, driven by three waves of foreign directinvestments over the past three decades, and the country is on the precipice ofa fourth wave, Maybank’s Economist and Assistant Vice President Brian Lee said./.
VNA
