All Eyes on Vietnam – The Fastest Growing Economy in Southeast Asia

Vietnam's economy has been showing significant signs of growth and stability in the recent years. The country's open economy and impressive GDP growth rate has presented much opportunity for foreign investors and businesses, and has made it the market choice for enterprises looking to expand their regional business network. As the country's economy is progressing, more developments in the infrastructure sector are in line for the next few years.

Major projects such as road pavements, creation of new urban areas & industrial zones, telecommunication facility development, tourism and education are some areas in which the country is targeting to make improvements. Foreign investors are very much welcomed by the government to take part in infrastructure developments to bolster these initiatives.

Several international banks and financial institutions have shown confidence and support with investments worth billions of US dollars to make these plans into reality. With an economy growth rate at more than 8% a year, real estate is booming in Vietnam. Fueled by the rising affluence and the increase in demand for high-end apartments, leisure and commercial buildings, industry experts forecast property growth would reach 20% to 30% in year 2008. As a result, total business value of the construction and building sector alone, showed an increased of 16% in year 2005 and is expected to keep on growing at annual rates of 10-15% right up till 2010, making Vietnam a vast infrastructural developmental market like no other in Southeast Asia.

     
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