Illustrative image (Photo: VNA)

According to the paper, over the last three decades, the country has embraced the private sector, launched a stock market, benefited from large inward investment by large multinational corporations, and enjoyed 7-8% annual economic growth.

This success has led fund managers and some brave British investors to see Vietnam as an exciting investment opportunity. As a result, many Asian investment funds hold Vietnamese companies in their portfolios, and three specialist, high-risk trusts invest exclusively in listed and unlisted Vietnamese companies. Shares in these trusts are traded on the London Stock Exchange, the paper said.

This year’s growth is projected to be stable at 1.5 percent, but next year it is projected to return to pre-pandemic high growth, it said.

Vietnam’s stock market has also risen by more than 30% this year, despite difficult economic conditions, showing the best performance across Asia.

Emily Fletcher, co-manager of the investment trust Black Rock Frontiers, said Vietnam’s “explosive” economic growth leading up to the pandemic has created great opportunities for Vietnamese companies.